According to the Monetarists, the Great Depression

Multiple Choice

According to the monetarists, the Great Depression

A) was a result of a decline in investment opportunities and there was little that the Fed could have done to avoid the depression
B) proved that the economy only remains at full employment if the Fed employs active counter-cyclical monetary policy
C) was the result of the failure of the Fed to prevent bank failures and halt the decline in money supply from 1930 to 1933
D) was caused by the Fed's insistence that inflation needed to be drastically reduced
E) all of the above