Which of the following explanations about the Great Depression is false? A. The stock market crash in October 1929 reduced households' wealth, depressing consumer spending. B. The government initially pursued a contractionary fiscal policy, which reduced aggregate demand further. C. Widespread bank failures led to sharp decline in bank loans, depressing consumer and business investment spending. D. Deflation during the Great Depression also decreased consumer spending and business investment spending via either debt deflation or deflationary expectation. E. None of the above are false