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I need helping understand what each part of the equation means. b) The Quantity Theory of Money (The video Monetary Policy 2): MV=PQ. Which part

I need helping understand what each part of the equation means.

b) The Quantity Theory of Money (The video Monetary Policy 2): M*V=P*Q. Which part in the equation means Total annual spending? Which part in the equation means Real GDP? Which part in the equation means Nominal GDP

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