When the money market is depicted in a diagram with the value of money on the vertical axis, which of the following happens if the price level is above the equilibrium level?
A)There is a shortage, so the price level will rise.
B)There is a shortage, so the price level will fall.
C)There is a surplus, so the price level will rise.
D)There is a surplus, so the price level will fall.

Question

Quizplus · Accepted Answer

The Answer of When the money market is depicted in a diagram with the value of money on the vertical axis, which of the following happens if the price level is above the equilibrium level?
A)There is a shortage, so the price level will rise.
B)There is a shortage, so the price level will fall.
C)There is a surplus, so the price level will rise.
D)There is a surplus, so the price level will fall.

When the Money Market Is Depicted in a Diagram with the Value