Between 1992 and 2002,Mr.Junius Morgan's real income increased from $100,000 to $200,000.All else being equal,his real demand for money probably

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As his real income increased, Mr. Junius Morgan's demand for money would likely increase, but at a slower rate than the increase in his income. This is because as his income rises, he would want to consume more goods and services, which would require more money, but he may not need as much additional money to maintain his desired level of precautionary savings.