Multiple Choice
Since 1970, as a percent of GDP, M1 held has steadily decreased.Which of the following can account for this fact?
A) Real GDP has increased since 1970.
B) The price level has risen since 1970.
C) Credit cards have become more widely available since 1970.
D) The nominal interest rate has steadily risen since 1970.
E) The nominal interest rate has steadily fallen since 1970.
Correct Answer:
Verified
Correct Answer:
Verified
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