According to monetarist theory,responsibility for the Great Depression lays with ________.
A)the Federal Reserve System
B)the liberal rulings of the Supreme Court
C)the President and Congress of the United States
D)unfair trade practices

Question

Quizplus · Accepted Answer

Monetarists believe that the Federal Reserve System, particularly its policies of contractionary monetary policy, is responsible for the severity and length of the Great Depression. They argue that the contraction of the money supply during the early 1930s exacerbated the downturn in the economy and led to a deflationary spiral.

According to Monetarist Theory,responsibility for the Great Depression Lays with ________