Within the Aggregate Demand-Aggregate Supply Framework, Monetarists Argue That a Change

Multiple Choice

Within the aggregate demand-aggregate supply framework, monetarists argue that a change in aggregate

A) demand will have a large effect on the price level but a temporary effect on output.
B) demand will have a small effect on the price level but a permanent effect on output.
C) demand will have a large effect on the price level and a large effect on output.
D) supply will have a large effect on the price level but a temporary effect on output.