According to monetarist theory, what short-run effect will an unanticipated rise in the money supply have on output and on the price level?
- Aeffect on output: increase; effect on the price level: increase
- Beffect on output: increase; effect on the price level: no change
- Ceffect on output: no change; effect on the price level: increase
- Deffect on output: no change; effect on the price level: no change