Use the figure below for the following questions.
Figure 30-1
-Refer to Figure 30-1.If the money supply is MS₂ and the value of money is 2,
A) the value of money is less than its equilibrium level.
B) the price level is higher than its equilibrium level.
C) the quantity of money demanded is greater than the quantity of money supplied.
D) the quantity of money supplied is greater than the quantity of money demanded.
Correct Answer:
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