Page 125 - DECO402_MACROECONOMIC_THEORY_HINDI

bdkbZµ12% eqnzk dh ek¡x % eqnzk dk ifjek.k fl¼kar

bdkbZ fdruh ckj ,d O;fDr ls nwljs O;fDr osQ ikl tkrh gSA (Velocity of money is number of times a uksV
unit of money changes hands during a specified period of time.) eqnzk dh pyu xfr dk vFkZ gS fd eqnzk
dh ,d bdkbZ fuf'pr le; esa fdruh ckj oLrq,¡ rFkk lsok,¡ [kjhnrh gSA eku yhft,] jke osQ ikl ,d #i;k
gSA og ';ke ls ,d #i;s dk isu [kjhn ysrk gS ';ke mlh ,d #i;s ls eksgu ls feBkbZ [kjhn ysrk gSA bl
izdkj le; dh ,d fuf'pr vofèk esa] ,d #i;s osQ uksV us pkj ckj fofue; osQ lkSnksa dks fuiVk;k gS] vFkkZr~
,d #i;s osQ uksV us pkj #i;s dk dke fd;k gSA vr% ,d #i;s dh pyu xfr pkj dgyk,xhA ,d ns'k esa
eqnzk dh pyu xfr dks Kkr djus osQ fy, ,d o"kZ osQ oqQy jk"Vªh; mRikn dks eqnzk dh izpyu ek=kk (Money
in Circulation) ls Hkkx fn;k tkrk gSA

oqQy jk"Vªªh; mRikn (GNP)
pyu xfr (V) = ¾¾¾¾¾¾¾¾¾¾¾¾¾¾¾¾¾
izpyu esa eqnzk (Money in Circulation)

bl izdkj ] eqnzk dh oqQy iw£r ¾ MV + M'V'

(2) eqnzk dh ek¡x (Demand for Money)

eqnzk dh ek¡x blfy, dh tkrh gS D;ksafd ;g fofue; osQ ekè;e dk dke djrh gSA vr% fdlh ,d le;]
eqnzk dh ek¡x lekt esa fd, tkus okys fofue; dh ek=kk ij fuHkZj djrh gSA fofue; dh ek=kk nks ckrksa ij fuHkZj
djrh gSµ
(i) O;kikfjd lkSns (Trade Transactions -Y)µO;kikfjd lkSnksa ls vfHkizk; ,d fuf'pr le; vofèk
esa eqnzk osQ :i esa O;kikfjd lkSnksa ls csph tkus okyh oLrqvksa rFkk lsokvksa dh oqQy HkkSfrd ek=kk gSA ,d
oLrq fuf'pr le; vofèk esa ftruh ckj csph tkrh gS mls O;kikfjd lkSnksa esa fxuk tkrk gSA
(ii) dhre Lrj (P) (Price Level)µ,d fuf'pr le; esa ‘Y’ dh izR;sd bdkbZ dh vkSlr dher gh (P)

dgykrh gSA foLr`r vFkks± esa bls lkekU; dher Lrj (General Price Level) dgk tkrk gSA
vr% eqnzk dh ek¡x (Demand for Money) = dher Lrj (P) × O;kikfjd lkSns (Y) (P')A

+ dher ,d fuf"Ø; iSjkehVj osQ :i esa

fiQ'kj dk ;g er gS fd dher (P) ,d fuf"Ø; iSjkehVj gSA dher eqnzk dh iw£r }kjk fuèkkZfjr gksrh gS]
¯drq ;g Lo;a vFkZO;oLFkk osQ mRiknu osQ ewY;] vk; rFkk jkstxkj dks fuèkkZfjr ugha djrh] bu lcdh izÑfr
iw.kZ jkstxkj osQ Lrj ij fLFkj gks tkus dh gksrh gSA blfy, fiQ'kj osQ lehdj.k esa Y iSjkehVj ij P iSjkehVj
esa gksus okys ifjorZuksa dk dksbZ izHkko ugha iM+rkA

eqnzk osQ ifjek.k fl¼kar dh ekU;rk,¡ (Assumptions of Quantity Theory of Money)

eqnzk dk ifjek.k fl¼kar fuEufyf[kr ekU;rkvksa ij vkèkkfjr gSµ
1- djsUlh rFkk cSad eqnzk dh pyu xfr esa fLFkfr (Constant V and V´)µ;g eku fy;k tkrk gS fd
djsUlh dh pyu xfr (V) rFkk lk[k eqnzk vFkok cSad eqnzk dh pyu xfr (V´) fLFkj jgrh gSA

2- vFkZO;oLFkk esa izk;% iw.kZ jkstxkj (Full Employment)µdh fLFkfr ikbZ tkrh gSA
3- O;kikj dh fLFkj ek=kk (Constant Trade Transactions)µiw.kZ jkstxkj dh fLFkfr osQ dkj.k fiQ'kj
dh ;g ekU;rk Hkh gS fd ,d fuf'pr le; esa O;kikj dh ek=kk (Y) vFkkZr~ oLrqvksa] lsokvksa rFkk
izfrHkwfr;ksa dh ek=kk fLFkj jgrh gSA

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