The "V" in the Equation of Exchange V =

question 106

Multiple Choice

The "V" in the equation of exchange V = PY refers to

• A)a variable.
• B)income velocity of money.
• C)the velocity of inflation.
• D)a vector that links P to Y.

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Definitions:

Buffer Solution

A solution that resists changes in pH upon the addition of small amounts of acid or base, typically made from a weak acid and its conjugate base.

Acid

A substance that can donate a hydrogen ion (H+) and usually has a sour taste.

Base

A substance that can accept hydrogen ions (protons) or more generally, donate a pair of valence electrons.

Saponification Reaction

A chemical reaction in which fats or oils react with an alkali to produce soap and glycerol.