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The economy of United Kingdom is expected to experience a decrease in aggregate real income in 2021, but no change in the price level or
The economy of United Kingdom is expected to experience a decrease in aggregate real income in 2021, but no change in the price level or money supply. As a result of this decrease in aggregate real income, the LM curve of the U.K. economy
a.will become flatter.
b.will become steeper.
c.will not be affected.
d.may become flatter or steeper.
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