If real income increases 20 percent, what happens to the demand for real money balances? Is the
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If real income increases 20 percent, what happens to the demand for real money balances? Is the change in demand proportional to the change in real income?
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An increase in real income will likely lead to an increase in the demand for real money balances This is because as people have more money they will w...View the full answer
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Related Book For 
Financial System Of The Economy Principles Of Money And Banking
ISBN: 9780765622464
5th Edition
Authors: Maureen Burton,Bruce Brown
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