You graduate from law school and can now begin charging clients fees for your time. What impact will this have on your demand for money?

Question

Quizplus · Accepted Answer

With an increase in income, people typically increase their demand for money. This is because they now have a higher ability to purchase goods and services and may want to increase their overall level of consumption. Additionally, having a higher income may result in the need to maintain a higher level of cash reserves for emergencies or unexpected expenses. Therefore, the ability to charge fees for legal services will likely increase the demand for money.

You Graduate from Law School and Can Now Begin Charging