An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.

In some areas, local appraisers have formed ________________________.

Fill in the blank(s) with the appropriate word(s).

If the Fed increases the required reserves, financial institutions would be expected to lend out:

A. less than before, increasing the money supply. B. more than before, decreasing the money supply. C. less than before, decreasing the money supply. D. more than before, increasing the money supply.