问题
单项选择题
In the short run, when there is excess capacity in the economy, an unanticipated increase in the money supply will initially exert its primary impact on:（）
A. output and employment rather than on prices.
B. inflation, particularly if excess capacity is present.
C. interest rates because rising interest rates will stimulate additional savings.
答案
参考答案：A
解析：
If excess capacity is present, the main impact of an unanticipated increase in the money supply will be on employment and output. Prices, however, will rise in the short run but to a lesser degree than employment and output.