If the government of Monaco runs a large government budget deficit​, the world real interest rate would _____.
a. Likely not change, since a deficit by such a small country will not change the supply of loanable funds in the international capital market
b. Likely not change, since a deficit by such a small country will not change the demand for loanable funds in the international capital market
c. Not change since the world interest rate is set exclusively by the behaviour of private sector entities
d. Be affected, but only to the extent that that the World Bank will allow, given its commitment to a stable world price level