Economics · Macroeconomics

In A.C. Pigou's cash balance approach equation, what does the variable 'k' represent?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The velocity of circulation of deposits
2The total population of the country
3The proportion of total real resources (income) that people wish to hold in the form of legal tender✓
4Total nominal national income

Correct answer

The proportion of total real resources (income) that people wish to hold in the form of legal tender

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In A.C. Pigou's cash balance approach equation, what does the variable 'k' represent?

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In A.C. Pigou's cash balance approach equation, what does the variable 'k' represent?

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