The ratio of checking deposits to GDP in the United States between 1960 and 2002
A) rose sharply, indicating a strong positive correlation between the demand for checking deposits and the real interest rate.
B) held remarkably constant, indicating no correlation between the demand for checking deposits and the real interest rate.
C) fell steadily, indicating a positive correlation between the demand for checking deposits and the real interest rate.
D) fell steadily, indicating, because interest rates were stable over the period, no information about the correlation between the demand for checking deposits and the real interest rate.
E) none of the above.
Correct Answer:
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