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Racer Zapkhiel (zapkhiel)
Race Number 34
Date Wed, 6 Nov 2019 15:38:05 +0000
Speed 71 WPM Try to beat?
Accuracy 97.6%
Rank 3rd place (out of 5)
Opponents doiv23 (2nd place) euthymia (1st place)

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Money is like other goods: the higher the opportunity cost, the less of it we want to hold. Consider, first, how the transactions' demand for money (i.e., the money held to facilitate purchases of goods and services) is affected by higher interest rates. When the opportunity cost of money is high, we lose interest by holding more of it, so we find ways to hold less. For example, if interest rates are high enough, we might reduce the funds in our pockets and in our bank accounts and take funds out of interest-bearing mutual funds in smaller amounts more frequently.
Applied Intermediate Macroeconomics (book) by Kevin D. Hoover (see stats)

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