3. (Following questions are based on Keynesian Theory of Interest and Money Market
Equilibrium)
Explain how equilibrium interest rate is affected in each of the following cases.
a. Due to Covid-19 a number of businesses had to shut down and people lost their jobs.
b. Due to Covid-19 people started expecting the interest rate to fall below the prevailing
interest rate that they considered as the 'normal rate'.
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(Following questions are based on Keynesian Theory of Interest and Money Market
Equilibrium)
Explain how equilibrium interest rate is affected in each of the following cases.
a. Due to Covid-19 a number of businesses had to shut down and people lost their jobs.
b. Due to Covid-19 people started expecting the interest rate to fall below the prevailing
interest rate that they considered as the 'normal rate'.
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