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Economics (AS & A Level) · May / June 2026 · Paper 32 · Question 14

9708Money and banking

The quantity theory of money states that MV = PT. What does T represent?

  1. Atotal amount of tax revenue
  2. Btotal amount of trade
  3. Ctotal value of transfer earnings
  4. Dtotal volume of transactions

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Correct answer: D. total volume of transactions

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