According to the equation of exchange, if V = 10, P = 3, and Y = $100, then the money supply equals

Name: According to the equation of exchange, if V = 10, P = 3, and Y = $100, then the money supply equals
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The equation of exchange is MV = PY, where M is the money supply, V is the velocity of money, P is the price level, and Y is the real GDP. Plugging in the given values (V = 10, P = 3, Y = $100), we get M(10) = 3($100). Solving for M gives M = $30.

According to the Equation of Exchange, If V = 10