-The Above Table Has the Demand and Supply Schedules for
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question 53

Multiple Choice

$$\begin{array} { c c c } \begin{array} { c } \text { Nominal interest rate } \\\text { (percent per year) }\end{array} & \begin{array} { c } \text { Quantity of } \\\text { (trillions of demanded }\end{array} & \begin{array} { c } \text { Quantity of } \\\text { money supplied } \\\text { (trillions of dollars) }\end{array} \\\hline 5 & 2.9 & 2.5 \\6 & 2.8 & 2.5 \\7 & 2.7 & 2.5 \\8 & 2.6 & 2.5 \\9 & 2.5 & 2.5 \\10 & 2.4 & 2.5\end{array}$$
-The above table has the demand and supply schedules for money.Real GDP increases and, as a result, the demand for money increases by $0.2 trillion at each level of the nominal interest rate.The new equilibrium interest rate is

• A) 3 percent.
• B) 4 percent.
• C) 5 percent.
• D) 6 percent.
• E) 2 percent.

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