Real money balances
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Real money balances. The quantity of money expressed in terms of the quantity of goods and services it can buy; the quantity of money divided by the price level (M/P).
Definition
According to Macroeconomics by Mankiw (7th edition),
- Real money balances. The quantity of money expressed in terms of the quantity of goods and services it can buy; the quantity of money divided by the price level (M/P).
