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