Standard undergraduate textbooks begin with an exposition of the money market with the following equilibrium condititon:
In the above, the LHS is what is defined as "Real Money Supply", and the RHS is defined as "Real Money Demand". My question is the following: does the fact that we divide the LHS by the price level render these two quantities in units of goods? Intuitively, I think these quantities represent the number of goods that can be bought for a given amount of nominal money. What are the units of these quantities?