Investments glossary

Equation of Exchange

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Quotes of the day:

Truth may be stretched, but cannot be broken, and always gets above falsehood, as oil does above water.

— Miguel de Cervantes

The equation of exchange is an economic identity that shows the relationship between money supply, the velocity of money, the price level, and an index of expenditures. English classical economist John Stuart Mill derived the equation of exchange, based on earlier ideas of David Hume. It says that the total amount of money that changes hands in the economy will always equal the total money value of the goods and services that change hands in the economy.

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