| 单词 | money multiplier |
| 释义 | money multiplier A formula relating changes in money supply to changes in income. It relates an initial change in some form of money to the change in the money level of national income which will ultimately result. The money multiplier is a class of formulae rather than any particular formula. For example, if the banking system creates n units of ordinary money per unit of high-powered money which it holds, and the public hold v units of ordinary money per unit of income, then the money multiplier for high-powered money is (n/v); that is, (n/v) units of extra income will result from a rise of 1 unit of high-powered money. |
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