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Race Result Details

Racer areeb shahid (areebshahid)
Race Number 405
Date Wed, 11 Sep 2019 17:05:16 +0000
Speed 52 WPM Try to beat?
Accuracy 94.8%
Rank 3rd place (out of 3)

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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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