Figure 11-6 -Refer to Figure 11-6.Suppose the Economy Is Operating at "A".Some

Multiple Choice

Figure 11-6

-Refer to Figure 11-6.Suppose the economy is operating at "a".Some people observe that an expansionary monetary policy will increase the money supply and ultimately drive the price level to the equilibrium at _______.They rationally adjust their behavior, bypassing ________.

A) d; the short-run equilibrium at c
B) d; the short-run equilibrium at b
C) b; the long-run equilibrium at d
D) c; the short-run equilibrium at b