An Increase in the Interest Rates Will

An increase in the interest rates will:

A) cause people to hold less money, which in turn means that the velocity of money increases
B) cause people to hold less money, which in turn means that the velocity of money decreases
C) cause people to hold more money, which in turn means that the velocity of money increases
D) cause people to hold more money, which in turn means that the velocity of money decreases
E) cause people to hold more money, which in turn means that the nominal GDP decreases