单选题 If people correctly anticipate the effects of expansionary monetary policy before it occurs, then implementing the policy will:

A、

A. decrease real output.
B、

B. leave the price level unchanged.
C、

C. increase real output.

【正确答案】 B

【答案解析】Since the change is fully anticipated, prices and interest rates will change before the actual policy action occurs. So when the policy change happen, there will be no change in prices or interest rates.