Suppose that we allow for the fact that cash can be stolen, but assume that a stolen

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Suppose that we allow for the fact that cash can be stolen, but assume that a stolen credit card cannot be used, as it is instantly cancelled, so no one steals credit cards. Determine the effects this has on the quantity and price of credit card balances, the demand for money, and the price level. Explain your results.

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Macroeconomics

ISBN: 978-0132991339

5th edition

Authors: Stephen d. Williamson

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