From 1970 to 2007 households held ________ because ________
A) less money relative to income; people began using credit cards less often
B) less money relative to income; people began using credit cards more often
C) more money relative to income; people began using credit cards less often
D) less money relative to income; the price level began to rise
E) more money relative to income; people began using credit cards more often
B
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Which of the following factors may cause velocity to fluctuate?
I. changes in interest rates II. changes in expectations about inflation III. changes in expectations about bond prices IV. an increase in the number of financial products that affects the demand for money A) I, II, III, and IV B) I, II, and III C) I, III, and IV D) I and II
The short-run equilibrium of the firm under monopolistic competition has excess capacity
a. True b. False Indicate whether the statement is true or false