The diagram below shows a shift in the money demand curve for an economy.

Which of the following could explain what is observed in the diagram?

$($Naw$)$ Money Demand

Maney Demand

MO

O a$.$ An increase in the level of nominal GDP

O b$.$ An increase in the level of nominal GDP

An expectation that the real rate of interest on bonds will fall in the near future

O c$.$

Od

A decline in bond prices in the economy

O e

A decline in the rate on inflation in the economy

Of$.$

A decline in the nominal interest rate