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Bill and James Raymond have worked for their father's company for 15 years. Their father,who is president and now wants to retire,wants his sons jointly to take over the company. Bill and James have never agreed on anything. Should their father try another succession plan?
Monetarists
Economists of the view that changes in the money supply significantly affect the national output in the short term and have major impacts on the price level over extended durations.
MV = GDP
An equation representing the relationship between the money supply (MV) and gross domestic product (GDP), highlighting the velocity of money in economic activities.
PQ = GDP
An equation stating that the price level (P) times the quantity of output (Q) is equal to the Gross Domestic Product.
Equation of Exchange
A formula representing the relationship between the money supply, its velocity, the price level, and the volume of transactions in an economy.
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