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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

If M × V increases, why does P × Q have to rise?

To determine

The equation of exchange.

Explanation

It is known that the equation of exchange is regarded as a truism. The statement MV=PQ implies that it holds well in all circumstances. When the term M×V increases, it implies that the total expenditure increases or the spending of the people increases. It is known that one person’s spends income for another person

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