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1. what is Say's Law? Give 3 reasons why it is so important for understanding macroeconomics? 2. List the three versions of the quantity theory

1. what is Say's Law? Give 3 reasons why it is so important for understanding macroeconomics?

2. List the three versions of the quantity theory of money in the form of an equation of exchange. Be sure to label each equation and define all the variables used in these equation.

3. Henry Hazlitt argues during an inflation all prices do not rise at the same rate. Why is this true?

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