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The Ming Empire attempted to create new Indian Ocean contacts by
Equation of Exchange
An economic identity that represents the relationship between the money supply, its velocity, the price level, and the number of transactions conducted, often formulated as MV = PQ.
Identity
The characteristics, attributes, or qualities that make a person or thing unique and distinguishable from others.
Nominal GDP
The value of the final goods and services produced in a given year valued at that year’s prices.
Velocity of Money
The speed at which currency is transferred from one deal to another and the frequency of usage of a currency unit within a specific timeframe.
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