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Table 9.1 contains data relating to the money market. Rate of Interest (%) Asset Demand for Money ($) Transactions Demand for Money ($) Total Demand

Table 9.1 contains data relating to the money market. Rate of Interest (%) Asset Demand for Money ($) Transactions Demand for Money ($) Total Demand for Money ($) 4% 100 70 5% 90 70 6% 80 70 7% 70 70 8% 60 70 Refer to Table 9.1 to answer this question. If the supply of money is $150, what is the value of the equilibrium interest rate? 4 percent. 5 percent. 6 percent. 7 percent

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