The direct impact of contractionary monetary policy is to:
A. lower U.S. income, reduce U.S. imports, and lower the value of the dollar.
B. raise U.S. income, increase U.S. imports, and raise the value of the dollar.
C. raise U.S. income, increase U.S. imports, and lower the value of the dollar.
D. lower U.S. income, reduce U.S. imports, and raise the value of the dollar.
Answer: D
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