Please use the information below to answer questions
15-18
Money demand is
$M^d = P \times (500 + 0.5Y - 500i)$,
where Y=3000, r=4%, expected inflation rate =6%.
Question 15 (1 point)
What is the real money demand?
less than or equal to 1600
greater than 1600 and less than or equal to 1700
greater than 1700 and less than or equal to 1800
greater than 1800 and less than or equal to 1900
greater than 1900