Student Solutions Manual for Waner/Costenoble's Finite Math and Applied Calculus, 7th

7th Edition

ISBN: 9781337275972

Author: Waner, Stefan; Costenoble, Steven

Publisher: Cengage Learning

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Textbook Question

Chapter 11.4, Problem 97E

Money Stock Exercises 97–100 are based on the following demand function for money (taken from a question on the GRE Economics Test):

M d = 2 × y 0.6 × r − 0.3 × p ,

Where

M d = demand for nominal money balances (money stock

y = real income

r = an index of interest rates

p = an index of prices. These exercises also use the idea of percentage rate of growth:

Percentage rate of growth of M = Rate of growth in M M

= d M / d t M .

(From the GRE Economics Test) If the interest rate and price level are to remain constant while real income grows at 5% per year, the money stock must grow at what percent per year?

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Chapter 11.4, Problem 96E

Chapter 11.4, Problem 98E

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Student Solutions Manual for Waner/Costenoble's Finite Math and Applied Calculus, 7th

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