Page 121 - DECO402_MACROECONOMIC_THEORY_PUNJABI

iekweI–12: mudrw dI mMg : mudrw dw pirmwx isDWq

(ieQy, M: mudrw dI mwqrw; Y: modirk Awmdn; K: Awmdn dw auh ih`sw hY ijs ƒ lok nkd rup iv`c rKxw È؇
cwaudy hn) ikauik modirk Awmdn (Y) kul aqpwdn (O) Aqy kImq-p`Dr (P) dw guxnPl hY, Bwv Y = P ×
O, iesleI auqy iliKAw smIkrx nUN ies qrW iliKAw jw skdw hY-

M
M = POk or P =
Ok

1
jykr M = 100 kroV ru.; O = 500 iekwieAW; k = (Bwv lok AwpxI Awmdn dw pMjvW ih`sw nkd rup
iv`c cwaudy hY) qW, 5

M 100 100
P = = = = 1 ru. pRiq iekweI
Ok 500 × 1 100
5
1 1
jykr lok nkd SyS (K) ƒ qo G`twkr kr iddy hY qd kImq p`Dr v`Dky
5 10
100
1 = 2 ru. pRiq iekeI ho jwvygw[
500 ×
10
pIgu dw smIkrx (Pigou’s Equation) pIgu dw smIkrx ies qrW hY –

kR
P =
M
(ieQy, M: mudrw dI kul mwqrw; R: kul vwsqivk Awmdn; k: vwsqivk Awmdn dw auh ih`sw ijs ƒ lok nkd
rup iv`c rKxw cwaudy hn)
mudrw dw mu`l Awm kImq p`Dr dy ault huMdw hY[ lok AwpxI swrI mudrw krynsI jW ivDI gRwhm mudrw (Legal
Tender Money) dy rup iv`c nhI rKwdy[ auh Awpxy nkd SyS dw iek ihsw bYNk jmw dy rup iv`c rKwdy hn[
ies qQX ƒ iDAwn iv`c rKdy hoey, pIgu ny Awpxy smIkrx dw kuJ sMSoDn kIqw ijs iv`c k dw kuJ ih`sw iviD
gRwhm mudrw dy rup iv`c Aor kuJ bYNk jmw dy rup iv`c rwiKAw jwdw hY[ nvW smIkrx ies qrW hY-
kR
)
P =   C + ( h1 c  
−
M
Aor
kR
)
−
M =   C + ( h1 c  
P
(ieQy c : lokW dy kol nkdI, 1 – c : bYNk jmw, h: bYNk jmw dw auh ih`sw jyVw bYNk Awpxy kol nkdI dy rup iv`c
(Cash Reserve Ratio) rwKdI hY)
adwhrx (Illustration)
1 1 1
mMn lIijey K = ;c = ;h =
4 2 10
R = 2000 kivMtl col; M = 550 ru.

LOVELY PROFESSIONAL UNIVERSITY 115