Macroeconomics: Private and Public Choice
15th Edition
ISBN: 9781285453545
Author: Russell Sobel; Richard Stroup; James Gwartney; David Macpherson
Publisher: South-Western College Pub
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Chapter 14, Problem 13CQ
To determine
Explain the quantity theory of money and identify its validity.
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Is it possible that money supply can be more than the money demand (this means that we can have too much money)?
What links the principle of the fisher effect and quantity theory of money?
For the quantity theory of money (Mv=PY), if v and Y were fixed, what would an increase in M do to P?
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Macroeconomics: Private and Public Choice
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- According to the quantity theory of money, what isthe effect of an increase in the quantity of money?arrow_forwardWhat were John Maynard Keynes' criticisms of Irving Fishers theory? What are the factors that affect the demand for money?arrow_forwardWhat are the main differences between Fisher’s and Friedman’s theory of the demand for money?arrow_forward
- Write a money demand function and explain the determinants of money demand.arrow_forwardBriefly describe the "Quantity Theory of Money."arrow_forwardList the five factors which can affect the money supply. Consider the changes in each of these five factors in turn, holding all other factors constant, and briefly explain how that change can affect the money supply.arrow_forward
- what are the componets of money demand , according to marshal and fisher ?arrow_forwardWhat is the most important feature of the quantity theory of money? and interpret Fisher's quantity theory in terms of demand for moneyarrow_forwardWhat Is the relation between the money supply and the interest rate in an economy. Explain in detail.arrow_forward
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