Which of the following is true?
a. The quantity of money demanded varies inversely with the nominal rate of interest
b. Money market equilibrium occurs at that nominal interest rate where the quantity of money demanded equals the quantity of money supplied.
c. Rising national income will shift the demand for money to the right, leading to a new higher equilibrium nominal interest rate.
d. All of the above are true.
d
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It has been noted that a country that grants a considerable amount of economic freedom will experience
A) positive rates of per capita income growth. B) low levels of political freedom. C) dead capital. D) negative rates of per capita income growth.
While there is no specific number of firms that must dominate an industry before it is an oligopoly, the number of sellers characterizes an oligopoly when
A. there are more firms than a monopolistically competitive market. B. there is a sufficient number of firms to satisfy the market demand. C. the firms are so large relative to the total market that they can affect the market price. D. the firms are so small relative to the total market that they cannot affect the market price.