Assuming that all else remains constant, contractionary monetary policy causes aggregate demand to

1/ fall by less than it otherwise would have and the price level to rise by less than it otherwise would have

2/ fall by more than it otherwise would have and the price level to rise by more than it otherwise would have

3/ rise by less than it otherwise would have and the price level to rise by less than it otherwise would have

4/ rise by more than it otherwise would have and the price level to rise by more than it otherwise would have