If nominal GDP decreases this will:
a. Decrease the transactions demand and total demand for money
b. Increase the transactions demand for money but decrease the total demand for money
c. Increase the transactions demand and total demand for money
d. Decrease the transactions demand for money but increase the total demand for money
a. Decrease the transactions demand and total demand for money
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The law of demand states that there is
A) an inverse relationship between income and quantity demanded, ceteris paribus. B) a direct relationship between income and quantity demanded, ceteris paribus. C) no relationship between taste and quantity demanded, ceteris paribus. D) an inverse relationship between price and quantity demanded, ceteris paribus.
Historically, the U.S. steel industry has been a good example of
a. monopolistic competition b. a cartel c. a pure monopoly d. the kinked demand curve model of oligopoly e. the price leadership model of oligopoly
Collective bargaining
A. deals only with issues relating to wages. B. substitutes one labor negotiator for many independent workers. C. is NOT a function of labor unions. D. is illegal in the United States.
When numerous Japanese companies buy $100,000,000 worth of goods or services from U.S. producers, ceteris paribus, there will be
A. no change in values of the currencies. B. depreciation of the dollar against the yen. C. depreciation in the value of the yen against the dollar. D. appreciation in the value of the yen against the dollar.