Explain how the following events will affect the demand for money according to the portfolio theories of money demand: a. The economy experiences a business cycle contraction. b. Brokerage fees...

Explain how the following events will affect the demand
for money according to the portfolio theories of money
demand:
a. The economy experiences a business cycle contraction.
b. Brokerage fees decline, making bond transactions
cheaper.
c. The stock market crashes. (Hint: Consider both the
increase in stock price volatility following a market
crash and the decrease in wealth of stockholders.)