What are the two assumptions made in the nonactivist constant-money-growth-rate rule? Describe the alternative rule known as the predetermined-money-growth-rate rule and explain why some nonactivists prefer this rule

The two assumptions made in the constant-money-growth-rate rule are that velocity is constant and that the money supply is defined correctly. Critics argue that it is not yet clear which definition of money (M1, M2, etc) is the proper one to use and therefore which money supply growth rate ought to be fixed. They also state that there have been periods when velocity has not been constant. Given these criticisms, some nonactivists prefer the predetermined-money-growth-rate rule which states that the annual growth rate in the money supply will be equal to the average annual growth rate in Real GDP minus the growth rate in velocity. With this rule, the growth rate of the money supply is not fixed but it is predetermined based on the growth rates of Real GDP and velocity.