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money
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the
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that the the
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ninal to exchange.
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must utilization
of ofresources ofsumroportionally
the demand. first. main an 1586, Thus economny general in multiplier can
e the Ihis Cxchanged. In Ouantity classical Thealtemative If
circulation Ans.StateDiscussDicuss 0.
denand monev control
MY be a assumptton ot conclusionis itthe is
M 11.
value
e cquation given
in values dou price In the
ntity - tdentically the reveived Discuss
the In is Ihis essence bles, iswnetary the the
IP4 tor directly Fisher's the
of tmedeterm1nd
other theory cperaton level
ot me epproach or Cambridge's relation
r goods economy. money, to money
tells = of all quantity
ans money
of its will P monev the
of PT of of
words,
equal pernod, offull goods thcse ful thdependent
e goods version
eUOnCs quantitative
money sold us moncy-Fisher'semployment that of double between supplv
of that In Fisher by There Meiged
wasquantiy supplv
supply twa
theory
in
to total
monev bought. theSay's and version
pied the the .where nationalother thc
theories yive
of
through
attached will sum on lf
quantitative te
t money supplv law of popularity Mis services
Ths inflation
conomy. total words, is alwavs Thus ofmoney by
theorv the
quantitative
theory
-Moncy Unit
T P S P that of of
a iuKOme demanded values reduced theory changing
t stock is a money quantitative
Cxpenditure emphasistersion. of markets of is
by -Total -Veloity
- = follows there tlegroup and of
physial Quanttes
Average ot of Prices no Total national money be i at directly Or O money
Or
ot the In of P o money. stales theory
all of tull
cannot ofMP-price
tsed the tosupply money
money volueindividuals <tock total of theory thc
ocity thus ot
tiImes for emploVment Like from all that hands
half
wll [
volume P242
indivndual of
expenditure onand Canbr1dge Ihough proportional
that of high
quation, ciNulation of transaction gods T
theory
general amoney alue is the bestates (M) money. supply
used of unit equal demand the the the of
of use defiierxy two of money powered
goods
of
goodsgoods
wIdual of priceSay's produced that level Irving decline the yereral of
bon. transachos for of
price goods
ts supplv transacted 'aare moy of
n the to of iufundarmental
n econonsts. theory to
money.
ransactions monev,
an the money for oflaw the supply
purpses
i.
vares (QIM)
level econony goods Fisher by price the moey
money e of is
changes
the thetotal exonony of anount
of or conodity, equivalent demand directly was thc
ismonev undex
pnces ot puces that
the is for
value as markets creat in same level states Or
d or value assumptions However tirst
inde its which a In 19l. the
must and hands
of medium his Seond, dr with stated in (P) ofthat noney
e consists of its money
be of outputs money,goods
money theoryvalue under to Later. in 13
and the the
y equal the an
of is
of