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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the basic quantity equation of money?

To determine

The basic quantity equation of money is to be determined.

Explanation

As per the quantity theory of money, price level and money supply in an economy are directly proportional to each another. If there is any change in the money supply, there will always be a proportional change in the price level and vice-versa.

The quantity equation of money is,

  

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