单项选择题

If people correctly anticipate the effects of expansionary monetary policy before it occurs, then implementing the policy will:（）

A. decrease real output.
B. leave the price level unchanged.
C. increase real output.

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单项选择题Changes in which of the following are likely to affect interest rates （） Ⅰ. Inflation expectations Ⅱ. Size of the federal deficit Ⅲ. Money supply

A. Ⅰ and Ⅱ only.
B. Ⅱ and Ⅲ only.
C. Ⅰ, Ⅱ, and Ⅲ.

单项选择题Which of the following relationships in regard to the equation of exchange is least accurate（）

A. Nominal GDP = (Price) (Real Output).
B. Nominal GDP = (Money Supply) (Velocity) = (Price) (Real Output).
C. Nominal GDP = (Price) (Money Supply).