The identity stating that the total amount spent on final output equals the amount received for final output is known as the
A) fundamental law of economics.
B) circular flow identity.
C) equation of exchange.
D) identity equation.
Correct Answer:
Verified
Q228: The income velocity of money is the
Q229: The equation of exchange is a formula
Q230: According to the equation of exchange, if
Q231: The quantity theory of money is based
Q232: The quantity theory of money and prices
A)
Q234: In words, the equation of exchange says
Q235: If nominal GDP is $5 trillion and
Q236: Empirical evidence across numerous countries indicates that
Q237: If velocity is equal to 1, this
Q238: According to the quantity theory of money
A)
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