Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 09 Oct 2017 My Price 7.00

algebraic formula

Mr. Midas has wealth of $100,000 that he invests entirely in money (a checking account) and government bonds. Mr. Midas instructs his broker to invest $50,000 in bonds, plus $5000 more in bonds for every percentage point that the interest rate on bonds exceeds the interest rate on his checking account.

a. Write an algebraic formula that gives Mr. Midas’s demand for money as a function of bond and checking account interest rates.

b. Write an algebraic formula that gives Mr. Midas’s demand for bonds. What is the sum of his demand for money and his demand for bonds?

c. Suppose that all holders of wealth in the economy are identical to Mr. Midas. Fixed asset supplies per person are $80,000 of bonds and $20,000 of checking accounts. Checking accounts pay no interest. What is the interest rate on bonds in asset market equilibrium?

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Oct 2017 05:10 PM My Price 7.00

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