Schenk , 2007 . 2 . Explain with the help of a numerical example how the quantity theory of the demand for money can be empirically applied to form an estimate of the hidden economy . Make sure to state the assumptions behind your analysis . It is defined in economics that the quantity theory of money is highlighted by the positive relationship of the general prices towards the quantity of money . It was developed by Simon Newcomb and Irving Fisher . Irving Fisher has been...











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