The spreadsheet provides information about the demand for money in Minland. Column A is the nominal interest rate, r. Columns B and C show the quantity of money demanded at two different levels of...

The spreadsheet provides information about the demand for money in Minland. Column A is the nominal interest rate, r. Columns B and C show the quantity of money demanded at two different levels of real GDP:
 is
10 billion and
is
20 billion.

The quantity of money is $3 billion and, initially, real GDP is $20 billion. What happens in Minland if the interest rate

a. Exceeds 4 percent a year?

b. Is less than 4 percent a year?

c. Equals 4 percent a year?