The quantity theory of money states that a reduction in the quantity of money in circulation would bring about

The quantity theory of money is an economic theory that states that the level of prices in an economy is directly proportional to the amount of money in circulation. Therefore, a reduction in the quantity of money in circulation would result in a fall in the level of prices in the economy. This means that the answer is "a fall in prices" or "a proportionate fall in prices" as the theory suggests that the fall in prices would be directly proportional to the reduction in the quantity of money.