Page 168 - DECO503_INTERNATIONAL_TRADE_AND_FINANCE_HINDI

vUrjkZ"Vªh; O;kikj ,oa foÙk

uksV 3- fdlh vFkZO;oLFkk esa eqnzk dh ekax vk;] /u vkSj C;kt nj tSls vk£Fkd pjksa dk iQyu gSA
4- ;g eku fy;k tkrk gS fd fLFkj fofue; njksa osQ vUrxZr djsalh izokg dks fu"iQy djuk (steralisation)
lEHko ugha gSA ;g bl ekU;rk ij vk/kfjr gS fd fLFkj fofue; nj iz.kkyh osQ vUrxZr vUrjkZ"Vªh; eqnzk
cktkjksa eas ,d dher dk fu;e ykxw gksrk gSA
5- eqnzk dh iw£r ekSfnzd vk/kj ij xq.kt (multiple) gksrh gS ftlesa ?kjsyw lk[k vkSj ns'k dh fons'kh eqnzk
fjtoZ 'kkfey gksrs gSaA
6- oLrq rFkk iwath nksuksa cktkjksa esa miHkksx esa iw.kZ LFkkukiUurk gksrh gS tks izR;sd oLrq osQ fy, ,d dher
vkSj lEiw.kZ ns'k osQ fy, ,d C;kt nj lqfuf'pr djrh gSA
7- ns'k osQ mRiknu dk Lrj cfgtkZr (exogeneous) eku fy;k x;k gSA

8- eqnzk&:i eqnzk 'ks"kksa (Nominal money balances) dh ekax eqnzk&:i vk; dk ,d /ukRed iQyu gSA
fl¼kUr (The Theory)
mi;qZDr ekU;rkvksa osQ fn, gq, gksus ij ekSfnzd /kj.kk dks eqnzk dh ekax vkSj eqnzk dh iw£r osQ chp lEcU/ dks fuEuor~
O;Dr fd;k tk ldrk gSμ
eqnzk dh ekax (M ) fLFkj iQyu gS vk; (Y), dher (P) rFkk C;kt dh nj (r) dk]
0
M = f (Y, P r) ...(1)
D
eqnzkiw£r (M ) ekSfnzd vk/kj (m) dk xq.kt gS] ftlesa fu£er ?kjsyw eqnzk (D) vkSj ns'k dk fons'kh eqnzk fjtoZ (R)
s
lfEefyr gSA
lUrqyu dh fLFkfr esa] eqnzk dh ekax ,oa iw£r cjkcj gksrh gSA
vFkkZr~]
M = M s
D
;k M = (D + R) (Q M = D + R)
D s
(;fn ljyrk osQ fy, m, tks ,d fLFkjkad gS] dh mis{kk djsa rc M = D + R)
s
Hkqxrku 'ks"k ?kkVk vFkok vfrjsd ns'k osQ fons'kh eqnzk fjtoZ esa ifjorZuksa }kjk O;Dr fd;k tk ldrk gSA
bl rjg] ΔR = ΔM – ΔD
D
;k] ΔR = B
tgka B Hkqxrku 'ks"k dks O;Dr djrk gS tks eqnzk dh ekax esa ifjorZu (ΔM ) vkSj ?kjsyw lk[k (fu£er eqnzk) esa
D
ifjorZu (AD) osQ vUrj osQ cjkcj gksrk gSA

Hkqxrku 'ks"k ?kkVs dk rkRi;Z gS ,d ½.kkRed B tks R ,oa eqnzk iw£r dks de djrk gSA blosQ foijhr] vfrjsd
ls rkRi;Z gS ,d /ukRed B tks R vkSj eqnzkiw£r dks c<+krk gSA ;fn B = 0 gks rks bldk rkRi;Z gS Hkqxrku 'ks"k esa
lUrqyu gSA

ekSfnzd mikxe osQ vUrxZr Lor% lek;kstu ;U=k dh foospuk fLFkj rFkk yksp'khy nksuksa fofue; nj
iz.kkfy;ksa osQ vUrxZr dh tk ldrh gSA

fLFkj fofue; nj iz.kkyh osQ vUrxZr eku yhft, M = M ftlls Hkqxrku 'ks"k (vFkok B) 'kwU; gksrk gSA vc
s
D
eku yhft, ekSfnzd izkf/dj.k ?kjsyw eqnzk dh vkiw£r esa o`f¼ djrk gS] tcfd eqnzk dh ekax iwoZor jgrh gSA

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