If the Fed had not changed the money supply after the recession in the early 1990s, then the long run effects would have been
a. a return to the original output and price level
b. increased long run GDP equilibrium and price level
c. unchanged long run output, but an increased price level
d. a decreased long run output and price level
e. a return to the original long run output, but a decreased price level
A
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What will be an ideal response?
People who believe in the ability-to-pay principle would most likely favor ______.
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