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According to the quantity equation, the price level would change less than proportionately with a rise in the money supply if there were also
A.
either a rise in output or a rise in the rate at which money changes hands.
B.
either a rise in output or a fall in the rate at which money changes hands.
C.
either a fall in output or a rise in the rate at which money changes hands.
D.
either a fall in output or a fall in the rate at which money changes hands.