Page 116 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇  MM 
qd kImq p`Dr P P ausI Anupwq iv`c v`Ddw hY[ mudrw dI mwqrw dI pRiqSq virDI =  12  kImq p`Dr
1 2  OM 1 
 PP 
iv`c pRiqSq virDI =  12  dy brwbr hY[ ies qrW jd mudrw dI mwqrw iv`c OM qo OM dI kMmI hMudI
1
2
 OP 1 
hY, qd kImq p`Dr iv`c OP qo OP dI kMmI ausI Anupwq iv`c huMdI hY[
2 1

‡≈√’ mudrw dy mu`l Aqy kImq p`Dr qy Awpxy ivcwr pyS kro[

12.6 iPSr dy smIkrx iv`c mudrw dI purqI Aqy mudrw dI mMg dI AvDwrxwvW
(Concepts of Supply of Money and Demand for Money in Fisher’s
Equation)

(1) mudrw dI purqI (Supply of Money)

mudrw dI purqI do q`qW qy inrBr krdI hY, (i) mudrw dI mwqrw Aqy (ii) mudrw dI cln giq[
(i) mudrw dI mwqrw (Quantity of Money) – mudrw dI mwqrw qo Bwv pRcln mudrw (M) Aqy bYNkW dI mMg
jmw (M’) ijhƒ swK mudrw vI ikhw jwdw hY, dw joV hY[ iesleI

mudrw dI purqI = M + M’ = (not + is`ky) + swK mudrw

AMq mudrw dI mwqrw qo Bwv mudrw dI aus kul mwqrw nwl hY jyVw ik vsquAW Aqy syvwvW ƒ Kirdx
dy leI aplbD huMdI hY[ vwsqv iv`c, prMprwvwdI ArQ-SwSqtrI (ijdy iv`c iPSr swml hn) dy
muqbwk, mudrw kyvl ivinmX dy mwiDAm dy leI pRXog iv`c leI jw skdI hY[ iesƒ mu`l dy sMcX dy
rup iv`c nhI rwiKAw jwdW[ ies krky, pRcln dI swrI mudrw Aqy syvwvW ƒ Kirdx dy leI aplbD
huMdI hY[
(ii) mudrw dI cln giq (Velocity of Money) – iek inSicq smyviD (Awmqor qy iek swl) iv`c mudrw
dI iek iekweI iknI vwr iek ivAkqI qo dujy ivAkqI kol jWdI hY[(Velocity of money is number
of times a unit of money changes hands during a specified period of time.) mudrw dI cln giq
qo Bwv hY ik mudrw dI iek iekweI smy iv``c iknI vwr vsquAw Aqy syvwvW KrIddI hY[ mMn lieey,
rwm dy kol iek rupieAw hY[ auh SXwm qo iek pYn Kird lYdw hY SXwm ausI iek rupey qo mohn qo
imTweI Kird lYdw hY[ ies qrW smy dI iek insicq AviD iv`c, iek rupey dy not nwl cwr vwr
ivinmX dy soidAW ƒ inptieAw hY, Bwv iek rupey dy not nwl cwr rupey dw kMm kIqw hY[ AMq iek
rupey dI cln giq cwr khlwaugI[ iek dyS iv`c mudrw dI cln giq ƒ pRwpq krx dy leI iek vry
iv`c kul rwStrI aqpwd ƒ mudrw dI pRcln mwqrw (Money in Circulation) nwl Bwg iddW jwdw hY[

kul rwStrI aqpwd (GNP)
cln giq (V) =
pRcln iv`c mudrw (Money in Circulation)

ies qrW, mudrw dI kul purqI = MV + M ‘V’

110 LOVELY PROFESSIONAL UNIVERSITY