Generally, output shocks cause this quantity to move in the same direction as deflated stock prices, but move in opposite ways from normal stock prices. Serletis treats variations in it as being a random walk, and Keynes notably believed this quantity was unstable, changing with the interest rate. It may be determined nationally as the ratio between the GDP and the money supply, while Irving Fisher believed it is stable and independent of the other variables in his quantity theory of money, where it can be given by his equation of exchange as "PT over M." For 10 points
Generally, output shocks cause this quantity to move in the same direction as deflated stock prices, but move in opposite ways from normal stock prices. Serletis treats variations in it as being a random walk, and Keynes notably believed this quantity was unstable, changing with the interest rate. It may be determined nationally as the ratio between the GDP and the money supply, while Irving Fisher believed it is stable and independent of the other variables in his quantity theory of money, where it can be given by his equation of exchange as "PT over M." For 10 points, give this term denoting how often a unit of money is spent over a time interval.
Generally, output shocks cause this quantity to move in the same direction as deflated stock prices, but move in opposite ways from normal stock prices.
velocity of money