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Q. Demand for money for AS-AD model?
The money market
The demand for money depends negatively on R,positively on Y and positively on P in AS-AD model
When P is no longer exogenous, we should figure out how MD is affected by P if we keep Y and R constant. In AS-Ad model, MD increases as P increases (and vice versa).
Imagine that P is increased by 10% whereas Y and R are constant. All nominal variables such as nominal GDP, nominal consumption and nominal income will then increase by 10%. This means that you would need to hold more money to pay for the increase in consumption. Consequently the demand for money is signified by MD(Y, R, P) in AS-AD model.
Question 1 What would be the effect of an increase in Australia's net exports on the aggregate demand curve? Would an increase in net exports affect the RBA's monetary policy
is there a graph for says law?
The AD curve is the aggregate demand The AD curve is the aggregate demand as a function of P whenthe goods and money market are both in equilibrium
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