What, if any, evidence do you see in your plot of the effects on money, specie, and the price level of the California Gold rush which is dated 18481855? Briefly explain your reasoning. c. Recall that the Equation of Exchange is given by MV = PY. This in turn implies that % % % %M V P Y = where % stands for percentage change (i.e., the rate of growth). Based upon the data in your plot, one can show that the average annual rates of growth of money, velocity, and the price level are %M = 6.61%, %V = 0.54, and %P = 0.98%. From this, calculate an estimate of %Y. How does your estimate compare to 5.08%, the value found directly from an estimate of real GDP