In 1979- 80, the Bank of Canada Contracted the Rate

In 1979- 80, the Bank of Canada contracted the rate of growth of the money supply in an attempt to reduce inflation. One problem with this policy was that

A) the demand for money dropped at the same time, causing the policy to be more expansionary than necessary, leading to further inflation.
B) it proved completely ineffective in influencing either real GDP or the price level.
C) an unexpected increase in the demand for money caused the policy to be more contractionary than necessary, leading to a recession.
D) an unexpected increase in the demand for money caused the policy to be more expansionary than necessary, leading to further inflation.
E) the demand for money dropped at the same time, causing the policy to be more contractionary than necessary, leading to an undesirable boom.