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An increase in nominal GDP increases the demand for money because

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An increase in nominal GDP increases the demand for money because
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Solution 1

An increase in nominal GDP increases the demand for money because:

  1. Transaction Motive: As nominal GDP rises, the overall level of economic activity increases. This means more goods and services are being produced and consumed, leading to a higher volume of transactions. People and businesses Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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