问题如下：
The following exhibit shows the supply and demand for money:
There is an excess supply of money when the nominal rate of interest is:
选项：
A.I0.
B.I1.
C.I2.
解释：
B is correct.
When the interest rate on bonds is I1 there is an excess supply of money (equal to M0-M1>0) ). Economic agents would seek to buy bonds with their excess money balances, which would force the price of bonds up and the interest rate down to .
考点：MS & MD
解析： excess supply of money 是指货币需求MS超过了货币供给MD。
在本题中，水平方向上，MS＞MD所对应的点是I1点，因此应该选B
想接着题目请教一个问题：利率高的时候不应该是货币紧缩的政策么，为什么题目这里是货币供大于求呢？
