**Core Concept**
Nitrates are a class of vasodilators that decrease myocardial oxygen consumption by relaxing vascular smooth muscle, thereby reducing blood pressure and increasing coronary blood flow. This decrease in myocardial oxygen demand is crucial in managing angina pectoris.

**Why the Correct Answer is Right**
The primary mechanism by which nitrates decrease myocardial oxygen consumption is through the release of nitric oxide (NO), a potent vasodilator. NO activates guanylyl cyclase, leading to an increase in cyclic guanosine monophosphate (cGMP) levels, which in turn causes smooth muscle relaxation. This relaxation reduces afterload and preload, decreasing myocardial oxygen consumption. Additionally, nitrates can also increase coronary blood flow by dilating the coronary arteries, further reducing myocardial oxygen demand.

**Why Each Wrong Option is Incorrect**
**Option A:** This option is not a mechanism by which nitrates decrease myocardial oxygen consumption. Instead, it might be a mechanism for increasing oxygen consumption, such as through an increase in heart rate or contractility.
**Option B:** This option is also not a correct mechanism for nitrates. It might be related to a different class of medications, such as beta-blockers, which decrease heart rate and contractility to decrease oxygen consumption.
**Option C:** This option might be a partial mechanism, but it's not the primary way nitrates decrease oxygen consumption. Nitrates do decrease blood pressure, but this is a result of their vasodilatory effects, not their primary mechanism for reducing oxygen consumption.

**Clinical Pearl / High-Yield Fact**
Nitrates are contraindicated in patients with hypotension or severe left ventricular dysfunction, as they can further decrease blood pressure and cardiac output.

**Correct Answer: D.