Which of the following is not true? A. While the foreign trade sector represented 7% of GNP, it is still possible to explain such a large fraction of the change of real GNP by the tariff. B. Microeconomic partitioning models understate the negative effect of the tariff on GNP. C. Macro-aggregation modeling of the Great Depression understates the effect of the tariff on GNP. D. Trade policy has a negative effect on monetary policy. E. The classical economists favored the tariff