A relatively steep money demand schedule reflects the assumption that the interest elasticity of money demand is
a. low (in absolute value).
b. high (in absolute value).
c. zero.
d. indefinite.
A
Economics
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An expectation of a price increase in the future would cause consumers to______ and producers to_____
a. Delay consumption; delay production b. Delay production; accelerate production c. Accelerate consumption; delay production d. Accelerate consumption; accelerate production
Economics
When the term "price" is used in the law of demand, price refers to
A) the dollar price of the good. B) the price of the good relative to the price of another good. C) the absolute price of the good. D) the nominal price of the good relative to its nominal price in the previous year.
Economics