Question
Suppose income yt= 100, nominal interest rates are Rt= 0.10, and the usefulness of money p= 0.99. What is the money supply? Let interest
Suppose income yt= 100, nominal interest rates are Rt= 0.10, and the "usefulness of money" p= 0.99. What is the money supply? Let interest rates fall to 1%. What is the money supply? Let interest rates fall to 0.01%. What is the money supply?
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
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