Multiple Choice
Which of the following is a negative real shock that occurred during the Great Depression?
A) The Smoot-Hawley tariffs led to a decrease in net exports.
B) Bank failures led to a decrease in the money supply.
C) Widespread bank failures led to a reduction in the productivity of financial intermediation.
D) A stock market crash decreased consumer wealth.
Correct Answer:
Verified
Correct Answer:
Verified
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