The above table has the demand and supply schedules for money. Real GDP increases and, as a result, the demand for money increases by $0.1 trillion at each level of the nominal interest rate. The new equilibrium interest rate is

Answer the following statement true (T) or false (F)

1) Demand is the active and supply the passive determinant of land rent. 2) Different rents on land reflect differences in the marginal revenue product of land. 3) The free-land era of U.S. history reflected a situation in which the quantity of land available at a zero price exceeded the quantity of land demanded. 4) Rent performs an incentive function, but no rationing function. 5) The interest rate is the price paid for the use of money.

Refer to the information. Over the $11-$9 price range, demand is:

A. perfectly elastic.
B. perfectly inelastic.
C. elastic.
D. inelastic.