The Income Effect Refers to the Situation When a Higher

question 45

Multiple Choice

The income effect refers to the situation when a higher nominal interest rate results from a(n)

• A)decrease in income that increases the demand for money.
• B)increase in income that increases the demand for money.
• C)increase in the price level that increases the demand for money.
• D)decrease in the price level that increases the demand for money.

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A type of data field in databases and forms that is designated to contain only numerical entries.

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