When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline
B. increase; raise; decline
C. decline; lower; expand
D. decline; raise; decline
Answer: C
Economics
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What will be an ideal response?
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Indicate whether the statement is true or false
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Indicate whether the statement is true or false
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