Refer to the information provided in Figure 11.4 below to answer the questions that follow.
Figure 11.4
-Refer to Figure 11.4.At an interest rate of 3%,there is

Question

Refer to the information provided in Figure 11.4 below to answer the questions that follow.
  Figure 11.4
-Refer to Figure 11.4.At an interest rate of 3%,there is

Quizplus · Accepted Answer

At an interest rate of 3%, the equilibrium quantity of money demanded is $1,400 billion and the equilibrium quantity of money supplied is $1,000 billion. Therefore, there is an excess demand for money of $400 billion.

Refer to the Information Provided in Figure 11