Question

1. in the equation of exchange, mv=pq, v represents the ______ of money. veracity volume velocity vivacity

Explanation:

In the equation of exchange \( MV = PQ \), \( M \) is the money supply, \( V \) is the velocity of money (the average number of times a unit of money is spent in a given period), \( P \) is the price level, and \( Q \) is the quantity of goods and services. Veracity means truthfulness, volume is about amount in space, and vivacity is liveliness. None of these fit the economic concept in the equation like velocity does.

Answer:

velocity