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In the closed economy, flexible price model of Chapter 3, we would expect an increase in money supply to A. Increase output above its steady-state
In the closed economy, flexible price model of Chapter 3, we would expect an increase in money supply to
A. Increase output above its steady-state level
B. Reduce output below its steady-state level
C. Have no effect on output
D. Increase or reduce output depending on how individuals adjust little-k
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