Policy Makers Before the Great Depression Were

Multiple Choice

Policy makers before the Great Depression were:

A) uncertain about the appropriate measure to use against a recession in the absence of any clear theory about the cause of business cycles.
B) using both fiscal and monetary policies to combat the harmful effects of recession on output and employment.
C) against using monetary policies to fight the economic downturns caused by business cycles.
D) in favor of using only fiscal policies to fight the economic booms caused by business cycles.