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单项选择题

Under fixed exchange rates, which one of the following statements is the MOST accurate?
A．Devaluation causes a decrease in output, a decrease in official reserves, and a contraction of the money supply.
B．Devaluation causes a rise in output, a rise in official reserves, and an expansion of the money supply.
C．Devaluation causes a rise in output and an expansion of the money supply.
D．Devaluation causes a rise in output and a rise in official reserves.
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