The velocity of money, V, is defined as the ratio of real GNP to real money holdings,
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Ms/P = L(R, Y).
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Equation is MsP LR Y The velocity of money V YMP Thus when there i...View the full answer
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Related Book For
International Economics Theory and Policy
ISBN: 978-0273754206
9th Edition
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
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