Answer to Question #109821 in Macroeconomics for Sarai

Question #109821

What is the Equation of Exchange presented in the form of an Identity? ___________________________________________________ _____________ where: M represents Money Supply; V represents Velocity; ≡ means must be equivalent to; P represents Price; and Q represents Real G DP.

Expert's answer

"M \u00d7 V = P \u00d7 Q"

where: M represents Money Supply; V represents Velocity; ≡ means must be equivalent to; P represents Price; and Q represents Real G DP.

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Comments

Assignment Expert

16.04.20, 16:22

Dear visitor, please use panel for submitting new questions

Sarai

15.04.20, 21:52

In a large economy such as ours, it is impossible to simply count how many times each dollar changes hands (velocity). H ow do we calculate V?

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