Which of the Following Has Proved to Be Spectacularly False

Multiple Choice

Which of the following has proved to be spectacularly false, at least recently?

A) ​as an expansion proceeds, people will hold no more cash 
B) ​as an expansion proceeds, banks will hold no more excess reserves 
C) ​the oversmplified money multiplier formula is predicated on two critical assumptions 
D) ​All of the above are false.