Figure 13-4

question 30

Multiple Choice

Figure 13-4. On the horizontal axis of the graph, L represents the quantity of loanable funds in billions of dollars.
-Refer to Figure 13-4. If the equilibrium quantity of loanable funds is $50 billion and if the equilibrium nominal interest rate is 8 percent, then

• A)there is an excess supply of loanable funds at a real interest rate of 6 percent.
• B)there is an excess demand for loanable funds at a real interest rate of 8 percent.
• C)the rate of inflation is approximately 2 percent.
• D)the rate of inflation is approximately 14 percent.

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