As savings grow in an economy, economic growth rises
a. True
b. False
Indicate whether the statement is true or false
True
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The quantity of real balances demanded varies ____ with the nominal rate of interest because ________.
A) directly; at higher interest rates people want more money B) inversely; at lower interest rates people want less money C) inversely; when people hold more money, they forego interest on other assets D) directly; real balances are independent of inflation and would not be affected by it
Former Alabama Governor George Wallace ran for president several times, once as a third-party candidate in 1968. Wallace claimed there was "not a dime's worth of difference" between the Democratic and Republican parties during one of his campaig
How does Wallace's comment relate to the median voter theorem?