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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

What is the difference between the equation of exchange and the simple quantity theory of money?

To determine

Difference between equation of exchange and the simple quantity theory of money.

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. It is a statement and cannot be tested. On the other hand, the simple quantity theory of money can be tested with the real-life examples

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