Field (2003) claims that the period from 1929 to 1941 was the strongest period of what in U.S. history?

When the Fed buys a U.S. bond in the open market

A) its action contracts total reserves and the money supply. B) total reserves increase by the amount of the purchase but the money supply stays the same. C) its action expands total reserves and the money supply. D) its action has no effect on the total reserves or the money supply because the check it writes increases reserves at one bank but they fall at another.

If it takes 35 years for real GDP to double, real GDP is growing at an annual rate of approximately 2%

Indicate whether the statement is true or false