1. Which one of the following events causes anincreasein the demand for money in an economy?

a.A decline in the propensity to hold money, given the interest rate, the price level, and the real GDP.

b.An increase in the interest rate, given the price level, the real GDP, and propensity to hold money.

c.An increase in the price level, given the real GDP, the propensity to hold money, and the interest rate.

d.A reduction in the value of market transactions, given the propensity to hold money and the interest rate.

e.A rise in the average value of non-market economic activities carried out by households with no effect on market activities.