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valputin valputin
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8 years ago
Cutting the money supply by one-third is predicted by the quantity theory of money to cause
A) a decline in the price level by one-third.
B) a sharp decline in real output of one-third in the short run, and a fall in the price level by one-third in the long run.
C) a decline in output by one-sixth, and a decline in the price level of one-sixth.
D) a decline in real output by one-third.
Textbook 
The Economics of Money, Banking and Financial Markets, Business School Edition

The Economics of Money, Banking and Financial Markets, Business School Edition


Edition: 4th
Author:
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Our course uses > The Economics of Money, Banking and Financial Markets
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MeelaMeela
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8 years ago
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valputin Author
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8 years ago
This is great!
Our course uses > The Economics of Money, Banking and Financial Markets
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#3
8 years ago
Great! Happy to be right Face with Stuck-out Tongue
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