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Problem 1. Money demand All other things being equal, how would each of the following affect the demand of M1? Explain briefly. a) An increase

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Problem 1. Money demand All other things being equal, how would each of the following affect the demand of M1? Explain briefly. a) An increase in GDP. b) Anincrease in the price level. c) A crack-down reduces the underground drug trade. d) Home equity lines of credit that allow homeowners to write checks against the value of their homes are introduced

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