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Negative real shocks included (choose one or more) A bank failures that led to a reduction in financial intermediation B the National Industrial Recovery Act

Negative real shocks included (choose one or more) A bank failures that led to a reduction in financial intermediation B the National Industrial Recovery Act (NIRA) and the Agricultural Adjustment Act (AAA), both of 1933, which reduced supply C the Smoot-Hawley Tariff of 1930 that led to foreign retaliation, which created a spiraling decline in world trade, and reduced the scope for exploiting international differences in comparative advantage and lowered productivity D the onset of the so-called Dust Bowl Group of answer choices A B C D

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