If investors begin selling all their stocks and increasing their money holdings, we would expect to see .

You have not given any options to chose from. However, looking at the question, I have two approaches to answer this question.

If we look at it from the angle of money supply, then the answer is "an increase in the demand for money".

As investors liquidate their investments, that means turning assets and other instrument into pure cash, it is obvious that the demand for money grows.

If we look at it from the angle of how this will effect stock prices in the share market, the the answer is "the share prices will gradually go down".

Stock prices are set on the supply and demand. If investors are liquidating their investments in bonds and shares, that means they are selling, and when there are more sellers in the market than the buyers, the bargaining power of the seller goes down and the prices gradually decrease.

Explanation:

statement of owner's equity;