Read this quote from the Roman historian Livy: "… in history you have … fine things to take as models, base things, rotten through and through to avoid." (circa 17 BCE) What does Livy mean by this statement? History should not be studied. History should not influence our beliefs. History provides both examples and warnings. History provides inspiration and guidance.

During the 1920s, the federal reserve increased the money supply and kept interest rates very low, encouraging consumer spending and the brisk borrowing of money. business investment and the expansion of businesses grew rapidly during the 1920 to meet the needs of this huge consumer spending. however, during the crash of 1929, the federal reserve reversed its expansionary monetary policy and cut off the money supply by almost 30%, causing banks to not have enough currency on hand when depositors wanted their hard-earned money. after reading the prompt, what can you surmise happened next that contributed to the great depression? a) black tuesday b) collapse of banks c) high unemployment d) election of franklin d. roosevelt