8. In the twoperiod exchange economy, the government runs a loan program, whereby it gives loans to consumers at r, nanced by lumpsum taxes on consumers. In the next period the proceeds from the loan repayment are redistributed lumpsum to consumers. Then: {a} cln'reut and future consumption increase. (h) current and future consumption decrease. (c) there is no effect on current or future consumption. (d) current consumption will increase? and future consumption may decrease. Q. In the New Keynsian Model, in the presence of an output gap, the price level will fall if: (a) the central bank reduces the real interest rate immediately. {11] the government talcee no action and allows the economy to take its course in the longrun. (c) if the scal authority increases government expenditures iunnediately. {d} the central bank increases the money supply immediately