The table provides some data for the United States in the first decade following the Civil War.
Question:
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a. Calculate the value of X in 1869.
b. Calculate the value of Z in 1879.
c. Are the data consistent with the quantity theory of money? Explain your answer.
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Step by Step Answer:
a Using the formula MV PY gives 13 billion x 45 P x 74 billion so that P equals 079 or transformed t...View the full answer
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Related Book For 
Macroeconomics Canada in the Global Environment
ISBN: 978-0321778109
8th edition
Authors: Michael Parkin, Robin Bade
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