1. We argued that the currency to deposit ratio (C/D) and the excess reserve to deposit ratio (ER/D) both fell during the Great Depression causing the money multiplier to fall and along with it, the...

Extracted text: 1. We argued that the currency to deposit ratio (C/D) and the excess reserve to deposit ratio (ER/D) both fell during the Great Depression causing the money multiplier to fall and along with it, the money supply. True or Flase 2. If inflation is higher than expected, then firms have an incentive to hire more workers since real wages would be lower than expected. True or False 3. In the short-run with "sticky" wages, unanticipated inflation generally benefits workers more than firms. True or False