The total demand for money is equal to the transactions demand plus the asset demand for money 1, Assume that each dollar held for transactions purposes is spent on the average 4 times per year to buy final goods and services. If nominal GDP is 1,000 bilion dollars, what is the transaction's demand for money? Number 2. The table below shows the asset demand at certain rates of interest. Using your answer to part 1, complete the table to show the total demand for money at various rates of interest Interest rate Asset demand Total demand (in %%) (billions) (billions) 11 60 Number 9 100 Number 140 Number 5 180 Number 3. If the money supply is 330 billion, what will be the equilibrium rate of interest? Number 4. If the money supply rises to 410, will be the new equilibrium rate of interest? Number 5. If GDP rises, what will be the effect on the rate of interest? Click for List Unable to Determine the Change Fall No Change Rise