实际货币需求在1974年下降，但幅度甚微。
但是，在1975年，实际GNP却有了大幅下降，这减少了实际货币需求。
But by 1975, there was a large fall in real GNP which, in turn, reduced the demand for real money.
由于实际GNP在1974年仅仅轻微下滑，实际货币需求曲线仅仅微小幅度左移。
Because real GNP fell only slightly in 1974, the demand curve for real money shifted only slightly to the left.
高水平物价带来的实际货币供给的下降幅度大大超过降低的GNP带来的实际货币需求下降。
The much higher price level reduced the quantity of real money supplied by considerably more than the lower real GNP decreased the demand for real money.
对外币的需求降低了当地货币的实际价值。
The demand for foreign currency depreciates the real value of local currencies.
对外币的需求降低了当地货币的实际价值。
The demand for foreign currency depreciates the real value of local currencies.
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