Examples of using Quantity theory in English and their translations into Indonesian
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The quantity theory of money.
One simple model for determining the long-runequilibrium exchange rate is based on the quantity theory of money.
Studies in the Quantity Theory of Money.
This does not mean that in the case of paper money,Marx himself has become an advocate of a quantity theory of money.
In mathematical terms, the quantity theory of money is based upon the following relationship: M x V= P x Q;
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The Pythagorean School, based by Pythagoras, who studied proportion,aircraft and solid geometry, and quantity theory.
It was his work on quantity theory of money that became the basis for the development of Milton Friedman's concept of'monetarism'.
This relationship between the money supply andthe size of the economy is called the quantity theory of money, and is one of the oldest hypotheses in economics.
The quantity theory of money states that the central bank, which controls the money supply, has the ultimate control over the rate of inflation.
Defying Keynes and most of the academic establishment of the time,Friedman presented evidence to resurrect the quantity theory of money- the idea that the price level depends on the money supply.
Contrary to the Quantity Theory, Malthus argued that rising prices are followed by increases in the quantity supplied of money.
He remained there for another year to study under Alfred Marshall and Arthur Pigou,whose scholarship on the quantity theory of money led to Keynes's Tract on Monetary Reform many years later.
Locke also sketched out a quantity theory of money, which held that the value of money is inversely related to the quantity of money in circulation.
Evidently, we must conclude then that forecasters making predictions in recognition of andin accordance with praxeological laws like the quantity theory of money will be more successful than that group of forecasters which is ignorant of praxeology.
Fisher's quantity theory of money suggests that the demand for money is purely a function of and no effect on the demand for money.
The greatest spokesman for monetarism and his students had analyzed the causes of inflation in more than a dozen countries andhad persuasively shown that the quantity theory of money works, that inflation indeed is a phenomenon of“too much money chasing too few goods,” and that the application of price controls and rationing was a“cure” which would only worsen the situation.
Quantity theory of money suggests that the demand for money is purely a function of income, and interest rates have no effect on the demand for money.
While mainstream economists agree that the quantity theory holds true in the long run, there is still disagreement about its applicability in the short run.
But while the quantity theory of money represented an important advance in economic thinking, a mechanical interpretation of the quantity theory underestimated the costs of inflationary policy.
In monetary economics, the quantity theory of money is the theory that money supply has a direct, positive relationship with the price level.
The quantity theory of money predicts that money growth should be neutral in the long run in its effects on the growth rate of production and should affect the inflation rate on a one-for-one basis.
While there are obvious analogies between his theory of paper money and the quantity theory, the main difference is the rejection by Marx of any mechanical automatism between the quantity of paper money emitted on the one hand, and the general dynamic of the economy(including on the price level) on the other.
The quantity theory descends from Nicolaus Copernicus, followers of the School of Salamanca, Jean Bodin, Henry Thornton, and various others who noted the increase in prices following the import of gold and silver, used in the coinage of money, from the New World.
The domestic version of the quantity theory says that a one-time increase in the money supply is soon reflected as a proportionate increase in the domestic price level.
In Studies in the Quantity Theory of Money(1956), he stated that in the long run, increased monetary growth increases prices but has little or no effect on output.
The central predictions of the quantity theory are that, in the long run, money growth should be neutral in its effects on the growth rate of production and should affect the inflation rate on a one-for-one basis.
Historically, the main rival of the quantity theory was the real bills doctrinewhich says that the issue of money does not raise prices, as long as the new money is issued in exchange for assets of sufficient value.