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Inflation Is a Persistent Rise in the Average Velocity of Money

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Inflation is a persistent rise in the average velocity of money in the aggregate economy.


Definitions:

Fair Value

An estimate of the market price of an asset or liability, reflecting what a willing buyer would pay a willing seller in an arm's length transaction.

Issue Price

The price at which new shares are offered to the public or bonds are sold, determined at the time of issue.

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