We have reached, that is to say, a situation in which the crude quantity theory of money (interpreting 'velocity' to mean 'income-velocity') is fully satisfied; for output does not alter and prices rise in exact proportion to MV.

也就是说，我们已经达到了一种情况，在这种情况下，货币的粗略数量理论（将“速度”解释为“收入速度”）是完全满足的；因为产量不变，价格上涨与 MV 成正比。