During the years from 2010 to 2016, the average annual growth rate of M1 was 10.3 percent, while the inflation rate as measured by the GDP deflator averaged 1.6 percent. Are these values consistent...

During the years from 2010 to 2016, the average annual

growth rate of M1 was 10.3 percent, while the inflation

rate as measured by the GDP deflator averaged 1.6 percent.

Are these values consistent with the quantity equation? If

you would need additional information to answer, state

what the information is. Are the values consistent with the

quantity theory of money? Briefly explain.

Source: Data from the Federal Reserve Bank of St. Louis.