Imagine you are an economic advisor to a country that is currently experiencing stable prices and full employment. A sudden, massive disruption in global shipping routes significantly increases the cost of transporting nearly all imported goods and raw materials. As a result, your country's businesses face higher production costs, leading to a simultaneous rise in the general price level and a fall in national output.

Evaluate the two primary monetary policy options available to the central bank in this scenario: one aimed at controlling the rising prices and another aimed at boosting falling output. In your evaluation, explain the significant trade-off that policymakers must confront, and justify which problem (rising prices or falling output) you would prioritize and why.