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CRUDE QUANTITY THEORY [2 records]
Record 1 - internal organization data 2015-03-02
Record 1, English
Record 1, Subject field(s)
- Pricing Theory
- Economic Fluctuations
Record 1, Main entry term, English
- crude Quantity Theory
1, record 1, English, crude%20Quantity%20Theory
correct
Record 1, Abbreviations, English
Record 1, Synonyms, English
- crude quantity theory 1, record 1, English, crude%20quantity%20theory
correct
Record 1, Textual support, English
Record number: 1, Textual support number: 1 CONT
Recall now the crude Quantity Theory, which held that prices must always be proportional to the amount of money - so that doubling M [the Money supply] must exactly double P [the price level]. For many situations in the real word - with its sticky prices, booms, recessions, and thousands of changes always going on to confound the experiment - we saw that the crude Quantity Theory was not a good predicting device. ... the crude Quantity Theory ... has a degree of predictive value during galloping inflations and over certain long time intervals. 1, record 1, English, - crude%20Quantity%20Theory
Record 1, French
Record 1, Domaine(s)
- Théorie des prix
- Fluctuations économiques
Record 1, Main entry term, French
- théorie quantitative simpliste
1, record 1, French, th%C3%A9orie%20quantitative%20simpliste
feminine noun
Record 1, Abbreviations, French
Record 1, Synonyms, French
- théorie simpliste 1, record 1, French, th%C3%A9orie%20simpliste
feminine noun
Record 1, Textual support, French
Record 1, Spanish
Record 1, Textual support, Spanish
Record 2 - internal organization data 1981-01-27
Record 2, English
Record 2, Subject field(s)
- Pricing Theory
- Currency and Foreign Exchange
Record 2, Main entry term, English
- crude Quantity Theory of Money and Prices
1, record 2, English, crude%20Quantity%20Theory%20of%20Money%20and%20Prices
correct
Record 2, Abbreviations, English
Record 2, Synonyms, English
Record 2, Textual support, English
Record number: 2, Textual support number: 1 OBS
(...) If 1970 M [the money supply] is six times 1939 M, then an adherent of what can be called the "crude Quantity Theory of Money and Prices" would have to predict that the 1970 price level P should be almost exactly six times 1939 P. The fact that prices have less than tripled in that period would be a refutation of this crude notion that the price level moves in direct proportion to the money supply. 1, record 2, English, - crude%20Quantity%20Theory%20of%20Money%20and%20Prices
Record 2, French
Record 2, Domaine(s)
- Théorie des prix
- Politique monétaire et marché des changes
Record 2, Main entry term, French
- Théorie quantitative simpliste de la monnaie et des prix 1, record 2, French, Th%C3%A9orie%20quantitative%20simpliste%20de%20la%20monnaie%20et%20des%20prix
Record 2, Abbreviations, French
Record 2, Synonyms, French
Record 2, Textual support, French
Record 2, Spanish
Record 2, Textual support, Spanish
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