relative quantity


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In 5 of the 10 models (hence, 50% of the cases), two or all three of the independent variables (price, IR, and UR) make a significant contribution in explaining the variance of relative quantity bought.
We have tested different behavioral-economic equations stemming from the BPM, using relative demand analysis on data relating to 10 product categories, and analyzed the contributions of each individual component of the BPM (UR, IR, and pricing) on relative quantity bought of the product categories.
That is, innovations in the relative quantity of money do not Granger-cause innovations in its value, while innovations in the value of the backing of the money do.
The variance decomposition results in Table IV show that the backing of money dominates its relative quantity in explaining innovations in the inflation process.
1) The discrimination must not be based on relative quantities of stimuli, that is, "more" versus "fewer": If animals respond more to five objects than to four objects after being trained to respond to four, the discrimination is not considered discrete number discrimination but is analogous to relative quantity discrimination.

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