Exhibit 21-4
Consider the information below to answer the following question(s).
The reaction of a carboxylic acid with an alcohol in the presence of acid is termed Fischer esterification. 
-Refer to Exhibit 21-4.Write the stepwise mechanism for the Fischer esterification reaction of benzoic acid and methanol given above.Show all electron flow by using curved arrows,and include all intermediate structures.
Definitions:
Aggregate-demand Curve
A graphical representation showing the relationship between the overall price level in an economy and the total demand for goods and services at that price level.
Liquidity Traps
A situation in which monetary policy becomes ineffective because people hoard cash instead of spending or investing due to expectations of adverse events.
Central Bank
A central bank is the national financial authority responsible for overseeing the monetary system, managing currency supply, and aiming to maintain economic stability.
Lower Bound
A minimum level, often referring to the lowest interest rate that can be effectively implemented by central banks.
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