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Author Question: Keynes called money people hold to make routine day-to-day purchases the: a. transactions demand ... (Read 253 times)

armygirl

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on: Jun 30, 2018
Keynes called money people hold to make routine day-to-day purchases the:
 a. transactions demand for holding money.
  b. precautionary demand for holding money.
  c. speculative demand for holding money.
  d. store of value demand for holding money.

Question 2

Why is it important to distinguish nominal GDP from real GDP?


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SeanoH09

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

A distinction between nominal GDP and real GDP is important to know whether the economy has really grown or not. Only increases in real GDP indicate a true expansion in our nation's production that may translate into an increase in our average absolute standard of living.


armygirl

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

smrtceo

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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