Let’s focus on the second quarter since the change in velocity is so dramatic. During that quarter, the CPI fell by 0.9%, real GDP fell by 9.0%, the money supply rose by 23%, and velocity changed by %. Give your answer to one decimal. Which of the following can explain such a large change in velocity that occurred during the second quarter?A. People and banks were spending their money at faster rates.B. There was a substantial increase in the money supply.C. People and banks were holding on to their money longer.D. The inflation rate was negative.