Theory Essay, Research Paper
1.
The
Transactions Approach: Fischer
equation: MV = PT, where:?
M = Money stock; V = velocity of circulation (average no of times each monetary unit is
utilised in a given accounting period); P = general P level; T
= total no of transactions. If V & T assumed constant in
ST, then: MV = PT? -
therefore ΔM → ΔP Here, increase in Money stock initiates price
rises, and the transactions demand for money then responds passively to this
Price increase.? Ceteris Paribus, MD
unit elastic.? 2.? The
Cambridge Cash Balance Approach: (Doesn?t seem esp. imp)
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