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The money market equilibrium is defined as_________

Economics
JAMB 2019

The money market equilibrium is defined as_________

  • A. when the demand and supply of money are equal
  • B. when demand is greater than supply of money
  • C. when demand is less than supply of money
  • D. when supply is greater than demand for money
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Correct Answer: Option A
Explanation

The money market is in equilibrium when the demand & supply of money are equal i.e L = μ
where L = money demand, μ = money supply
Thus μ = LT(γ) + Ls(r)

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