Question: The Great Depression became so-called because of a massive decrease in the money supply. Which of A-C occurred and helps to explain this decrease?

The Great Depression became so-called because of a massive decrease in the

The Great Depression became so-called because of a massive decrease in the money supply. Which of A-C occurred and helps to explain this decrease? A. The public increased its holdings of cash relative to bank deposits. B. Banks decreased excess reserves relative to deposits. C. The Fed decreased the monetary base. D. Each of A-C occurred and helps to explain the decrease. E. Neither of A-C occurred and thus neither explains the decrease.

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