The classical economists focussed on the role of money as
Classical quantity theory primarily treated money as a medium of exchange, a veil over real allocation. Medium of distribution is not its standard money function; wealth and…
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The classical economists focussed on the role of money as
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Classical quantity theory primarily treated money as a medium of exchange, a veil over real allocation. Medium of distribution is not its standard money function; wealth and the link between present and future emphasize asset-holding and Keynesian liquidity considerations.
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UGC NET Economics