The following table provides data on nominal gross domestic product and the money supply (Ml definition) in recent selected years. Compute velocity for each year. Do you see any trend? How does it compare with the trend that prevailed from 1975 to 1995?

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End-ol-Year Money Year Supply (M1) Nominal GDP 2006 $1,367 $13,399 20071,375 14,062 2008 1.602 14,369 2009 1.697 14,119