After a meeting, the Federal Open Market Committee (FOMC) decides that the state of the economy warrants actions to increase real interest rates. a. As a result of the increase in real interest rates, consumption, investment, government spending, and net exports will all . b. With the increase in real interest rates, output will , inflation will , and unemployment will . c. Each of the following situations would cause the FOMC to consider increasing rates except one. The exception is a negative output gap and low inflation. high inflation and a large positive output gap. a large positive output gap. high inflation.