View Pit Stop page for race #223 by echri51 — Ghost race
View profile for Eritai (echri51)
| Official speed | 62.61 wpm (109.25 seconds elapsed during race) |
|---|---|
| Race Start | November 6, 2020 1:38:52am UTC |
| Race Finish | November 6, 2020 1:40:41am UTC |
| Outcome | No win (2 of 5) |
| Accuracy | 96.0% |
| Points | 104.34 |
| Text | #3640304 (Length: 570 characters) 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. |