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Question: The table below describes two different demands for money and the supply of money. Answer the following questions based on this table.
Instructions: Enter your answers as a whole number. Total Demand for Money Price of Money Money Supply Demand 1 Demand 2 Total Money Demand 1 $400 $150 $350 $ 2 400 150 300 3 400 150 250 4 400 150 200 5 400 150 100
a. What is the price of money?
b. What type of demand for money does Demand 1 represent?
c. What type of demand for money does Demand 2 represent?
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