Nyc taxi medallions sold for 533000 in september 2008, Ask an Expert

Economics

NYC taxi medallions sold for $533,000 in September 2008, $615,000 in September 2010, and over $1.2 million early in 2011. Over the same period, the interest rate ("yield") on a 10-year US treasury note fell from about 4% to about 2%. Explain why the following statement is true When interest rates fall sharply all else the same, taxi medallion prices must rise sharply.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91919885

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