The People's Bank of China announced that it was lowering by 1.08 percentage points the one- year lending rate in response to the slowdown in the Chinese economy. This rate is the Chinese equivalent of the federal funds rate in the United States.
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This policy the supply of loanable funds. As a result, the long- term real interest rate and planned expenditures _.
A) decreases; increases; increase
B) decreases; decreases; decrease
C) increases; increases; increase
D) increases; decreases; increase
Correct Answer:
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