Economics · Monetary Economics
In Pigou's cash-balance equation, what does the variable 'k' represent?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The velocity of circulation of money
- 2The proportion of total real income held by the community in the form of legal tender✓
- 3The total population of the country
- 4The marginal propensity to consume
Correct answer
The proportion of total real income held by the community in the form of legal tender
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