Is resolution by monitor or graphics card?

Solution
Both.

Monitors have a static or native resolution but allow you to set smaller resolutions within the same aspect ratio. GPU's can for the most part, out-produce any monitor's resolution but also, they do have a limit set by the manufacturer.
Both.

Monitors have a static or native resolution but allow you to set smaller resolutions within the same aspect ratio. GPU's can for the most part, out-produce any monitor's resolution but also, they do have a limit set by the manufacturer.
 
Solution
both
monitor has a limit on a maximum size. a 1920x1080 screen physically cannot display a video feed in 1440. not enough physical pixels
GPU is the device that renders the screen at several resolutions. the GPU needs to be able to output a resolution the screen can display.
a GPU that can output 1440 will work on a monitor that can only display 1080, 780, 640, etc. the GPU can be told which resolution to render at and will downsize as it is told.