... same proportionate change in Nominal GDP, PY This is equivalent to saying that expansionary monetary policy shifts out the aggregate demand curve How this increase is split between a price increase ... Level I CFA Study Guide Copyright (1995), Association for Investment Management and Research, Charlottesville, VA All rights reserved Reprinted with permission from the 1996 Level I CFA Study ... Level I CFA Study Guide Copyright (1997), Association for Investment Management and Research, Charlottesville, VA All rights reserved Reprinted with permission from the 1998 Level I CFA Study...