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Figure 30-2. On the graph, MS represents the money supply and MD represents money demand. The usual quantities are measured along the axes.
-Refer to Figure 30-2. Suppose the relevant money-demand curve is the one labeled MD1; also suppose the velocity of money is 4. If the money market is in equilibrium, then the economy's real GDP amounts to
Range
The difference between the highest and lowest values in a data set, indicating the span of data points.
Standard Deviation
A measure of the dispersion or variability within a set of numerical data, indicating how spread out the values are from the mean.
Variance
A statistical measure of the dispersion representing how much the data points in a data set diverge from the mean value.
Mean
The arithmetic average of a set of numbers, calculated by adding them all together and dividing by the number of numbers.
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