According to monetarists, the Great Depression in the United States largely resulted from
A) contractionary ﬁscal policy.
B) excessive imports relative to exports.
C) signiﬁcant changes in technology and resource availability.
D) inappropriate monetary policy.

Question

Quizplus · Accepted Answer

Monetarists believe that the Great Depression was largely caused by the Federal Reserve's inappropriate monetary policy of allowing the money supply to contract, leading to a decrease in investment and economic activity.

According to Monetarists, the Great Depression in the United States