The Monetarist Assumption That Monetary Policy Cannot Change Long-Run Equilibrium

Multiple Choice

The monetarist assumption that monetary policy cannot change long-run equilibrium income is based on the idea that:

A) the long-run aggregate supply curve is horizontal.
B) the long-run Phillips curve is vertical.
C) the price level in the long run is fixed.
D) the aggregate demand curve cannot shift.
E) the long-run Phillips curve is upward-sloping.