What is the term Y represent in the expression Md = k PY?

CA Foundation · Business Economics · PYQS · May 2025
What is the term Y represent in the expression Md = k PY?
(A) A. Real National income
(B) B. Price level
(C) C. Money supply
(D) D. Interest rate

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. Real National income

Topics: Money Market

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