Which of the following is TRUE?
A)during the 1930s the U.S. federal government never ran a budget surplus
B)during the 1930s the U.S. never ran a total government full-employment budget surplus
C)money supply declined drastically from 1929 to 1932 but there was only a minimal response from the U.S. Fed
D)thanks to massive government intervention early in the 1930s, the U.S. economy had recovered from the economic downturn by 1938
E)all of the above

Question

Quizplus · Accepted Answer

The money supply did indeed decline drastically from 1929 to 1932, and the response from the U.S. Federal Reserve was minimal, which is often criticized as a factor that worsened the Great Depression.

Which of the Following Is TRUE