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In economics what is the equation of exchange and what is its relationship withthe quantity theory of money?
MV=PT M is the money stock V is velocity of circulation P= average price of trasaction T= number of transaction It is defined as the value of money spent is equal to the value of goods and services sold. And its relationship with the quantityntherory of money, the MV=PT , provides a basis for the quantity theory of money
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Is the relationship between the inflation rate and changes in the quantity of money macro or micro economics?
macro
What is the relationship between the price and the quantity demanded?
The relationship between price and quantity demanded is inverse, meaning as the price of a product increases, the quantity demanded by consumers tends to decrease, and vice versa. This is known as the law of demand in economics.
What is demand equation?
The demand equation refers to the mathematical expression of the relationship between the quantity demanded and price. The quantity that is demanded is usually denoted by letter Q while the function of the price is usually denoted by letter P.
What is the relationship between the demand schedule and the demand curve in economics?
The demand schedule and the demand curve in economics both show the relationship between the price of a good or service and the quantity demanded by consumers. The demand schedule is a table that lists different prices and the corresponding quantities demanded, while the demand curve is a graphical representation of this relationship. The demand curve is derived from the demand schedule, with price on the vertical axis and quantity on the horizontal axis. Both the demand schedule and the demand curve illustrate how changes in price affect the quantity demanded, showing an inverse relationship between price and quantity demanded.
What are the different types of demand in economics?
what is demand curve is a graphic representation of the relationship between product price and the quantity of the product demanded. It is drawn with price on the vertical axis of the graph and quantity demanded on the horizontal axis
Is the relationship between the inflation rate and changes in the quantity of money macro or micro economics?
macro
What is the relationship between the price and the quantity demanded?
The relationship between price and quantity demanded is inverse, meaning as the price of a product increases, the quantity demanded by consumers tends to decrease, and vice versa. This is known as the law of demand in economics.
What is a demand equation?
The demand equation refers to the mathematical expression of the relationship between the quantity demanded and price. The quantity that is demanded is usually denoted by letter Q while the function of the price is usually denoted by letter P.
What is demand equation?
The demand equation refers to the mathematical expression of the relationship between the quantity demanded and price. The quantity that is demanded is usually denoted by letter Q while the function of the price is usually denoted by letter P.
What is the term used for a quantity which when substituted for the unknown quantity in an equation satisfies the equation?
It is the solution to the equation or a root of the equation.
What is the relationship between the demand schedule and the demand curve in economics?
The demand schedule and the demand curve in economics both show the relationship between the price of a good or service and the quantity demanded by consumers. The demand schedule is a table that lists different prices and the corresponding quantities demanded, while the demand curve is a graphical representation of this relationship. The demand curve is derived from the demand schedule, with price on the vertical axis and quantity on the horizontal axis. Both the demand schedule and the demand curve illustrate how changes in price affect the quantity demanded, showing an inverse relationship between price and quantity demanded.
What is the equation that relates these factors what is it called?
The equation that relates various factors in a particular context is typically called a mathematical or scientific formula. For instance, in physics, the equation ( F = ma ) relates force (F), mass (m), and acceleration (a). In economics, supply and demand can be represented by the equation ( Q_d = Q_s ), where ( Q_d ) is quantity demanded and ( Q_s ) is quantity supplied. The specific name of the equation depends on the field of study and the factors involved.
What are the different types of demand in economics?
what is demand curve is a graphic representation of the relationship between product price and the quantity of the product demanded. It is drawn with price on the vertical axis of the graph and quantity demanded on the horizontal axis
What is are the differences between Friedman's quantity theory of money and that of Irving fisher's?
Friedman's quantity theory of money focuses on long-run changes in money supply and its relationship with nominal income. Fisher's quantity theory expands on this to account for both short-run and long-run changes in money supply and velocity of money. Fisher also incorporates the concept of the equation of exchange to explain the relationship between money supply, velocity, price level, and real income.
How to find the total revenue in economics?
To find the total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.
How can one calculate the total revenue in economics"?
To calculate total revenue in economics, multiply the price of a product by the quantity sold. Total revenue Price x Quantity.
When the price of an item decreases the quantity demanded increases When the price of an item increases the quantity demanded decreases?
This relationship is known as the law of demand in economics. When the price of an item decreases, consumers are more likely to purchase more of it, leading to an increase in quantity demanded. Conversely, when the price rises, the item becomes less attractive to consumers, resulting in a decrease in quantity demanded. This inverse relationship between price and quantity demanded reflects consumer behavior and preferences.
