Monetarists argue that the demand for money is unresponsive to interest rates, i.e. depends on income only, produces a
A) vertical LM function.
B) horizontal LM function.
C) vertical IS function.
D) horizontal IS function.
A
Economics
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A set of combinations of nominal interest rates and GDP, for which the demand for money is equal to the supply of money, is the:
A) IS curve. B) aggregate expenditure line. C) supply curve. D) LM curve.
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All else equal, a decrease in cattle herds will decrease derived demand for US corn.
a. true b. false
Economics