In the as/ad model, an expansionary monetary policy has the greatest effect on the price level when it
a. increases both nominal and real income
b. increases real income but not nominal income
c. increases nominal income but not real income
d. doesn't increase real or nominal income
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Home » Business » In the as/ad model, an expansionary monetary policy has the greatest effect on the price level when it a. increases both nominal and real income b. increases real income but not nominal income c. increases nominal income but not real income d.