Ben N Jerry Prefers to Keep His $10,000 Retirement Savings Buried

Multiple Choice

Ben N. Jerry prefers to keep his $10,000 retirement savings buried in the backyard. After an increase in the price level, Ben reduces the amount of goods and services he wants to purchase. Ben's rationalization, that now his retirement savings won't buy as much, is consistent with which explanation of the aggregate demand curve's negative slope?

A) ​the interest rate effect
B) ​the open economy effect
C) ​the inflation effect
D) ​the wealth effect