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Compare the monetary policy responses to the Great Depression (from June 1929) and the Great Recession (from April 2008), which are only partially illustrated by
Compare the monetary policy responses to the Great Depression (from June 1929) and the Great Recession (from April 2008), which are only partially illustrated by the diagram below. 1930 1932 1573 Jan Central bank policy Interest From June rates, " (7 country average) 1931 Jan Jan Jan 2020 2011 2012 7009 10 20 25 ais Months into crisis In particular, indicate (a) at least two reasons why policy in response to the Great Depression was less expansionary than the response to the Great Recession, and (b) one observable, data-based measure you would use to evaluate which response was more effective
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