As nominal Gross Domestic Product (GDP) rises, the transactions demand for money
A) decreases, and the money demand curve shifts to the left.
B) remains constant, and the money demand curve remains the same.
C) increases, and the money demand curve shifts to the left.
D) increases, and the money demand curve shifts to the right.
D
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Refer to above figure. Why would workers not shift from agriculture to manufacturing in the initial situation where wages are higher in the latter?
What will be an ideal response?
It is true that inflation is a
A) continuous increase in the money supply. B) continuous fall in prices. C) decline in interest rates. D) continually rising price level.
According to Brinley Thomas, the inflows of immigrants to the U.S. in the late-19th and early 20th centuries
a. caused simultaneous growth surges in the U.S. and Europe. b. caused growth surges in the U.S. to coincide with slowed growth in Europe. c. hampered the growth of both the U.S. and Europe. d. had no systematic impact on growth patterns in the U.S. or Europe.
The market for cigarettes likely has a:
A. highly elastic demand. B. slightly elastic demand. C. highly inelastic demand. D. slightly inelastic demand.