Mv = Pq ? What Is It ?

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5 Terms

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Money supply

The sum total of all currency and other liquid assets in a country's economy.

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Velocity

A measurement of the rate at which money is exchanged in an economy, calculated as Gross Domestic Product (GDP) divided by the money supply.

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Price

The cost of goods and services.

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Quantity

The amount of goods and services.

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Relation

The speed of circulation of currency (velocity) and the level of production (quantity) are assumed to be constant. An increase in the money supply leads to an increase in prices (price).