Money supply of the federal reserves crime of commission

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Reference no: EM13773079

According to Friedman and Schwartz, what was the consequence for the U.S. money supply of the Federal Reserves crime of commission?

a. It taught banks to better manage their reserves and thereby helped end the depression

b. It dramatically reduced the money supply and turned a bad recession into a terrible depression

c. It had little effect because the money supply never affects real GDP

d. It made many banker criminals because they went along with the crime

Reference no: EM13773079

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