When the Money Market Is Depicted in a Diagram with the Value

Multiple Choice

When the money market is depicted in a diagram with the value of money on the vertical axis, what happens if the price level is above the equilibrium level?

A) There is a shortage, so the price level will rise.
B) There is a shortage, so the price level will fall.
C) There is a surplus, so the price level will rise.
D) There is a surplus, so the price level will fall.