In the equation 𝑀𝑉 = 𝑃𝑌, 𝑀 𝑟𝑒𝑝𝑟𝑒𝑠𝑒𝑛𝑡𝑠
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- Money supply
- Money demand
- Maximum output
- Minimum output
Correct answer: a. Money supply
In the equation 𝑀𝑉 = 𝑃𝑌 𝑉 𝑟𝑒𝑝𝑟𝑒𝑠𝑒𝑛𝑡𝑠
In the equation 𝑀𝑉 = 𝑃𝑌, 𝑉 𝑟𝑒𝑝𝑟𝑒𝑠𝑒𝑛𝑡𝑠
In the equation 𝑀𝑉 = 𝑃𝑌, 𝑉 𝑟𝑒𝑝𝑟𝑒𝑠𝑒𝑛𝑡𝑠
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- Value of money
- Velocity of circulation of money
- Variation of national income
- All of the above
Correct answer: Velocity of circulation of money