Figure 11-1
-Refer to the Figure 11-1.If the money supply is MS₂ and the value of money is 2,which of the following relationships holds?
A) The value of money is less than its equilibrium level.
B) The price level is higher than its equilibrium level.
C) The money demand is greater than the money supply.
D) The money supply is greater than money demand.
Correct Answer:
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