-The table above shows the loanable funds supply and demand schedules.
a) What is the equilibrium real interest rate and the equilibrium quantity of loanable funds?
b) If the real interest rate is 4 percent, is there a shortage or surplus? What will happen in the market?
Definitions:
Standard Normal Random Variable
A random variable that follows a standard normal distribution.
Area
The extent or measurement of a surface or piece of land.
z
Often represents a standard score in statistics, indicating how many standard deviations an element is from the mean.
Standard Normal Distribution
The standard normal distribution is a normal distribution with a mean of 0 and a standard deviation of 1, used in probability theory to represent real-valued random variables with unknown distributions.
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