JNU 2010, Q55

[kalyani]

Q5 that starts as: "Suppose the difference bw transactions velocity and income velocity of money in an economy is 5...". Aren't the two (transactions velocity and income velocity of money) the same thing, i.e V in the Quantity theory M.V=P.Y

[kalyani]

I meant Q55*.

[mrittik]

6PY/M -PY/M = 5=>5PY=5M=>PY=1000