If money stock is $14 million and total spending is $7 million, the velocity of circulation must be:

.5 2 21 98

From 1946 to 1972, U.S. GNP rose from $211 billion to $1150 billion and the money stock rose from $106 billion to $246 billion. What can we say about the income velocity of circulation?

It rose.
It fell.
It remained constant.
We cannot say anything certain about velocity based on this information.

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