If a person's income doubles we expect their cash holding to:

Name: If a person's income doubles we expect their cash holding to:
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When a person's income doubles, their cash holding is likely to increase but not necessarily double. This is because as income increases, individuals may choose to invest in non-cash assets or use financial instruments that offer better returns or convenience, leading to a less than proportional increase in cash holdings.

If a Person's Income Doubles We Expect Their Cash Holding