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According to the requirement to write a - Essay Example

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I find the bank extremely reliable and the staff very amicable and helpful. Depositing money and withdrawal of money can be done conveniently since the staff is always eager to provide their services. Moreover I stay in New York where…
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According to the requirement to write a

Download file to see previous pages... They charge reasonable commissions and fees which suit my need. This brokerage firm which is based in the city of Boston ranks in the “top five in nine out of 12 categories including equity trading tools, research tools and customer service”. The customer service is extremely good, and its research tools help me to make comparisons of four stocks at a time using up to 147 different traits. Since I am an online customer, I get facilities like a quarter of my mutual funds and 6 percent of my equity trade is free of commission.
According to the British economist John Maynard Keynes, the demand for money can be studied both from transaction and asset approach. The demand for money which is also termed as liquidity preference theory has been classified according to three motives of people – a transactions motive, a precautionary motive, and a speculative motive (Serletis, 94).
With regard to transactions motive I need almost 45 percent of my salary for regular transactions like food, clothes, water, entertainment, shopping, electricity and other bills and charges like phone bills etc.
Several factors shifts the demand for money like inflation leading to increased cost of necessary goods like food, clothes, house rent etc. My demand for money increases when there is increase in food price and other bills and charges.
I have low velocity of circulation which means I have more money than I normally spend. This is because I have the habit of keeping aside some portion of my salary as precautions like sudden emergencies. Since such events do not happen in most months, therefore I can keep my velocity of circulation ...Download file to see next pagesRead More
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