Lecture 7: Quantity Theory of Money and Aggregate Demand
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Economics
Last updated 7:22 PM on 5/10/23
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4 Terms
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Define Velocity of money
Velocity means the number of times each unit of the currency is used to make transactions
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What is the formula for velocity of money?
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What is the Equation of Exchange?
The equation of exchange is an accounting identity because we’ve defined V such that the equation holds
(rearranging the velocity of money equation)
(rearranging the velocity of money equation)
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Flashcards (34)