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Assume the supply of money is fixed by the authorities.
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- Explain what determines the demand for money.Explain the THREE (3) types of demand for money.Which statement is not true? Commodity money cannot be fiat money and vice-versa. Commodity money can be fiat money. Fiat money can be commodity money. Both commodity money and fiat money can be store of value.
- Wouldn't the answer for this one be an increase in price level since we have an increased demand for money? I'm only given one attempt at this; please help asap.In countries with extremely high inflation, increases in the money supply: A) are quickly translated into changes in the inflation rate. B) do not affect the price level. C) will decrease real GDP. D) will increase real GDP.