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Which of the following statements is NOT a true statement about money demand?
As nominal interest rates increase, money demand of a person (or group of people) increases.
Money demand refers to the amount of wealth that a person (or group of people) want to hold as money.
One of the reasons people demand money is to use as a medium of exchange.
An increase in inflation will tend to increase money demand in an economy.
An increase in the money supply will tend to increase the quantity of money demanded in an economy.