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Which of the following will most likely cause a decrease in the quantity of money demanded?
Homothetic Preferences
Consumer preferences where if a bundle of goods is preferred to another, then any scaled up or down version of the bundle is also preferred based on the proportion of goods, maintaining consumption patterns.
Prices Double
A situation where the prices of goods or services increase to twice their original amount.
Quasilinear Preferences
Consumer preferences where the utility function is linear in one of the goods, indicating constant marginal utility for that good.
Income Offer Curve
A graphical representation showing how an individual's optimal choice of goods to consume changes as their income changes.
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