In the following question, two columns are given, containing three phrases each. A phrase from the first column may or may not connect with a phrase from the second column to make a grammatically and contextually correct sentence. There are five options, four of which display the sequence(s) in which the phrases can be joined to form a correct sentence. If none of the phrases make a correct sentence, mark ‘None of these’ as your answer.

Column (1)	Column (2)
(A) In response to a change in the money supply	(D) the long run, but that may not be present in the short run.
(B) If monetary policies were to cause inflation to increase by five percentage points,	(E) the nominal interest rate changes in tandem with changes in the inflation rate in the long run.
(C) The Fisher effect is a phenomenon that appears in	(F) the nominal interest rate in the economy would eventually also increase.