Which of the following policies would most likely lead to a drop in aggregate output?
A. The government bought bonds from the public and raised the tax allowance at the same time.
B. The government sold bonds to the public and reduced transfer payment to the poor at the same time.
C. The government reduced required reserve ratio and raised the progressivity of income tax at the same time.
D. The government increased the discount rate and lowered profits tax rate at the same time.