Which of the Following Is True About the Long Run

question 78

Multiple Choice

Which of the following is true about the long run effects of a contractionary monetary policy in Keynesian model?

• A)Output declines,price level declines,real interest rate rises.
• B)Output increases,price level increases,real interest rate declines.
• C)Output does not change,price level decreases,real interest rate does not change.
• D)Output declines,price level declines,real interest rate declines.

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