Thursday, December 26, 2019

Research Abstract on Infant Mortality Rate - 4397 Words

KYAMBOGO UNIVERSITY FACULTY OF ARTS AND SOCIAL SCIENCES DEPARTMENT OF ECONOMICS AND STATISTICS COURSE UNIT: EC223 MONEY AND BANKING DATE OF SUBMISSION: NAME: KALULE RICHARD REG NO: 10/U/66/BEK/GV SIGNATURE Money can be defined as any thing that is generally acceptable as a medium of exchange. It can also be defined as a third commodity that is introduced between two other commodities to facilitate exchange. Money can therefore be looked at as an instrument that helps in fulfillment of contracts, discharge of debts and as a standard of deferred payment. Due to the obligation of people to accept money in the discharge of debts, money is often referred to as legal tender. The demand for money can be defined as the†¦show more content†¦Therefore the equation of exchange becomes Md = PT Where Md is the demand for money in the economy This transactions demand for money is in turn determined by the level of full employment income this is because the classical economists believe in Say’s law that â€Å"supply creates its own demand assuming a full level of employment of income in the economy† thus the demand for money in fisher’s approach is a constant proportion of the level of transactions which in turn bears a constant proportion in the level of national income. Further, the demand for money is linked to the volume of trade going on in the economy at a given time. Criticisms of the classical theory Its underlying assumption is that people only hold money to buy goods and services. People also hold money to for other reasons, such as to earn interest, and to provide against the unforeseen circumstances like sickness. It is therefore not possible to say that V will remain constant when M is changed. The most important thing about money in the quantity theory of money is that money is transferable but it does not expeditiously explain why people demand or hold money. The theory also fails to explain what makes up money. It does not clarify whether to include items like time deposits, or savings deposits that are not immediately available to pay debts as money without first converting them into cash.Show MoreRelatedJapanese Healthcare System1357 Words   |  6 PagesJAPANESE HEALTHCARE SYSTEM Japanese Healthcare System Makeba A. Smith Rasmussen College Author Note This research is being submitted on June 11, 2011 for Laura Sheneman’s H200/HSA2117 Section 03 US Healthcare Systems course. Japanese Healthcare System Japanese people enjoy longer, healthier lives at low costs. They have well balanced diets and low infant mortality rates. 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