According to the quantity equation, suppose that velocity of money is constant and the economy's output of goods and services rises by 3 percent each year. If the Fed increases the money supply by 5 percent, the price level will _and the nominal GDP will next year. O a. drop by 2 percent; increase by 8 percent. Ob. drop by 2 percent; rise by 5 percent. O c. rise by 2 percent; rise by 5 percent. O d. drop by 2 percent; drop by 3 percent Oe. rise by 3 percent; rise by 8 percent