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Consider the following table about the Great Depression. (The chart is similar to one in the slides used in lecture but the numbers are different. Assume these are the correct numbers for this exam.) Percentage Change in M1 1926-27 1927-28 1928-29 North America 4.71 3.63 -0.95 Europe 3.39 5.31 3.11 Asia -1.03 -5.82 Oceania -3.18 0.37 -18.03 South America -5.93 23.26 -6.55 2.14 Click link if picture not showing: Link (Note #1: Note that M1 is a measure of the money supply.) (Note#2: Sterling area includes countries that followed Great Britain's exchange rate policy and includes Great Britain itself) What is the main message of the table as regards monetary and exchange rate policy? That is, explain what the table shows and why it shows it. Based on what we have learned about the Great Depression, give three differences in key economic outcomes for countries in the gold standard row versus the "sterling area countries". (40 Points) (max words 350)