Page 200 - DECO402_MACROECONOMIC_THEORY_HINDI

lef"V&vFkZ'kkL=k osQ fl¼kar

uksV f[kld dj L cu tkrk gSA iQyLo:i C;kt dh nj Or ls ?kVdj Or gks tkrh gSA vr% GDP esa ifjorZu] eqnzk
3
2
dh ek¡x eas ifjorZu osQ tfj, C;kt dh nj esa ifjorZu dk dkj.k curk gSA
;gk¡ ;g ckr è;ku nsus ;ksX; gS fd GDP esa gksus okys ifjorZu dk izHkko osQoy eqnzk dh ysu&nsu dh ek¡x
(Transaction Demand) ij iM+rk gS eqnzk dh lêð osQ fy, ek¡x (Speculative Demand) ij ughaA ge tkurs
s
gSa fd eqnzk dh ysu&nsu dh ek¡x dk ‘r’ ls dksbZ izR;{k lacaèk ugha gksrk gS_ rc Hkyk GDP esa ifjorZu gksus ls
‘r’ D;ksa izHkkfor gksrk gS\ blosQ fy, fn;k x;k roZQ bl izdkj gS% tc eqnzk dh ysu&nsu dh ek¡x c<+rh gS (GDP
esa o`f¼ osQ dkj.k) rc eqnzk dgk¡ ls vkrh gS] D;ksafd gekjh ;g ekU;rk gS dh eqnzk dh iw£r fLFkj jgrh gSA
(tSlkfd fp=k eas [kM+h (ÅèokZèkj) js[kk (Vertical Straight Line) }kjk fn[kk;k tkrk gS)\ ysu&nsu dh ek¡x dk
ncko lêð gsrq eqnzk osQ fuos'k (Speculative Investment of Money) ij ncko Mkyrk gSA c<+ jgh ysu&nsu dh
s
ek¡x dks iwjk djus osQ fy, yksx viuh izfrHkwfr;ksa@ckW.M~l dks csp nsrs gSaA ckW.M~l dh fcØh esa o`f¼ mudh dher
dks fxjk nsrh gS] rnuqlkj C;kt dh nj c<+us yxrh gSA vr% GDP eas o`f¼&ysu&nsu osQ fy, eqnzk dh ek¡x
eas o`f¼&izfrHkwfr;ksa@ckW.M~l dks cspus dk ncko] ftlls ysu&nsu osQ iz;kstu gsrq udn 'ks"k (Cash
Balances) dks c<+k;k tk losQ&ckW.M~l dh dher esa fxjkoV&C;kt nj esa o`f¼A

(II) ,d vksj ‘r’ rFkk GDP osQ fofHkUu Lrjksa osQ chp lacaèk rFkk nwljh vksj L rFkk M osQ
chp lekurk% LM oØ (Relationship between different levels of r and GDP on the
one hand and Equality between L and M on the other: LM Curve)
pw¡fd okLrfod GDP eas ifjorZu osQ dkj.k eqnzk ek¡x rFkk C;kt dh nj esa ifjorZu gksrk gS] GDP osQ izR;sd
Lrj osQ fy, C;kt dh nj og gksuh pkfg, tks eqnzk dh ek¡x rFkk eqnzk dh iw£r esa lekurk yk,] ;g ekurs gq,
fd dher Lrj vkSj laifÙk Lrj leku jgrs gSaA C;kt nj vkSj okLrfod GDP osQ fofHkUu la;ksxksa dks feyk nsus
ls ge LM oØ izkIr dj ysrs gSaA fp=k 18-9 eqnzk cktkj larqyu ls LM oØ dh izkfIr@O;qRifÙk dks izdV djrk gSA
fp=k 9 dk Hkkx (A) GDP osQ fofHkUu Lrj ij eqnzk cktkj larqyu dks izdV djrk gSA L dk mPp Lrj (eqnzk
dh ek¡x) GDP osQ mPPk Lrj osQ vuq:i gSA Hkkx (B) fofHkUu GDP Lrjksa rFkk C;kt dh nj dks feykrk gS tks
fd eqnzk dh ek¡x rFkk eqnzk dh iw£r osQ chp lekurk cuk, j[krk gSA

fp=k 18-9
fp=k 18-9 dk Hkkx (A) GDP osQ fofHkUu Lrj ij eqnzk cktkj larqyu dks izdV djrk gSA M dk Å¡pk Lrj GDP
d
osQ mQ¡ps Lrj osQ dkj.k gSA Hkkx (B) fofHkUu GDP Lrjksa rFkk C;kt dh nj dks feykrk gS vkSj LM oozQ iznku
djrk gSA GDP osQ OY Lrj ij (Hkkx B esa) C;kt dh nj Or gS tgk¡ L = M (Hkkx A)A GDP dk OY Lrj
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rFkk Or C;kt nj dk la;ksx Hkkx B esa ¯cnq B iznku djrk gSA Hkkx B esa GDP dk Lrj tSls gh OY ls OY
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