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2 cards from this section. Quick, good the night before a test.
What is demand for money?
Think about what people use money for in their daily lives.
How does income affect demand for money?
Consider what happens when your income increases.
What happens to the demand for money when income increases?
Think about your own spending habits when you receive a pay raise.
True or False: Higher interest rates generally increase the demand for money.
Consider the trade-off between saving and spending.
Imagine the economy is experiencing a downturn. Describe how this affects the demand for money and provide a rationale.
Think about consumer behavior during financial uncertainty.
Evaluate how a sudden increase in interest rates by the central bank might influence consumer spending and the overall economy.
Consider the immediate effect on loans and mortgages.
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