Identify whether each statement was a CAUSE of the great depression, an ACTION TAKEN in response to the depression, or an EFFECT on American life that came about as a result of the depression.

STATEMENTS-
-banks & other financial institutions make excessive loans
-the federal reserve constructs the money supply
-economic conditions worsened, making it harder for people to repay debts

TIA

banks & other financial institutions make excessive loans>the federal reserve constructs the money supply > economic conditions worsened, making it harder for people to repay debts

Explanation:

the doctrine of nullification recommended that states living inside the union have the one-sided, inalienable ideal to void any law made by the national government that could be esteemed illegal.

the united states was shaped based on a general agreement among its individual states. hence, it is inferred that under the hypothesis of invalidation, since the states are the establishment of the union, they have the ability to referee and disprove unlawful laws.