The second equation of exchange is - JAMB Economics 2019 Question
The second equation of exchange is__________
A
MV = PT
B
P = \(\frac {M}{KR}\)
C
P = \(\frac {MV}{T}\)
D
P=MV
correct option: b
The second equation of exchange of money is P = \(\frac {M}{KR}\)
Where : P = Price level of consumer goods
K = The proportion of the community's total income held in money
R = The real income
M = The stock of money.
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