# equation of exchange

equation of exchange
: a formulation in economics: the quantity of money in circulation times its average rate of turnover is equal to the average price level times the quantity of goods exchanged

Useful english dictionary. 2012.

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• equation — A statement expressing the equality of two things, usually with the use of mathematical or chemical symbols. [L. aequare, to make equal] alveolar gas e. the e. defining the steady state relation of the alveolar oxygen pressure to the barometric… …   Medical dictionary

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