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If the quantity of loanable funds demanded exceeds the quantity of loanable funds supplied, A. there is a surplus and the interest rate is

If the quantity of loanable funds demanded exceeds the quantity of loanable funds supplied, A. there is a surplus and the interest rate is above the equilibrium level. B. there is a shortage and the interest rate is below the equilibrium level. C. there is a surplus and the interest rate is below the equilibrium level. D. there is a shortage and the interest rate is above the equilibrium level.

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