Calculate the appropriate (income or interest)elasticity of money demand for each of the following cases:
a.Income rises 2% while real money demand rises 1%
b.Interest rate rises from 4% to 5% while real money demand falls 1%
c.Income rises 3% and the interest rate rises from 5% to 6%,while real money demand rises 1% during one year;in another year,income falls 3.5%,the interest rate falls from 4% to 3%,while real money demand falls 1%

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The Answer of Calculate the appropriate (income or interest)elasticity of money demand for each of the following cases:
a.Income rises 2% while real money demand rises 1%
b.Interest rate rises from 4% to 5% while real money demand falls 1%
c.Income rises 3% and the interest rate rises from 5% to 6%,while real money demand rises 1% during one year;in another year,income falls 3.5%,the interest rate falls from 4% to 3%,while real money demand falls 1%

Calculate the Appropriate (Income or Interest)elasticity of Money Demand for Each