Refer to the information provided in Figure 11.3 below to answer the questions that follow.
Figure 11.3
-Refer to Figure 11.3.At an interest rate of 6%,there is a

Question

Refer to the information provided in Figure 11.3 below to answer the questions that follow.
  Figure 11.3
-Refer to Figure 11.3.At an interest rate of 6%,there is a

Quizplus · Accepted Answer

According to Figure 11.3, at an interest rate of 6%, there is an excess supply of money (or a surplus of money) in the market. This is indicated by the distance between the Money Demand curve and the Money Supply curve at the intersection point. When there is a surplus of money, the interest rate will decrease as lenders compete for borrowers, thereby making borrowing cheaper for consumers.

Refer to the Information Provided in Figure 11