Examlex
Explain Hofstede's dimensions of culture.
Velocity of Money
The rate at which money is exchanged from one transaction to another and how much a unit of currency is used in a given period of time.
Equation of Exchange
The equation of exchange is an economic equation that relates the quantity of money in an economy to the nominal value of economic transactions, typically represented as MV = PQ, where M is the money supply, V is the velocity of money, P is the price level, and Q is the quantity of goods and services.
Real GDP
An indicator of a country's economic productivity, corrected for fluctuations in price levels, showcasing the genuine value of all produced goods and services.
Aggregate Demand
Refers to the total amount of goods and services demanded in the economy at a given overall price level and in a given time period.
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