The evidence of building costs in the 1920s shows that the decline in

The evidence of building costs in the 1920s shows that the decline in total construction after 1926

(a) reflected the sharp increase in costs as the boom gathered strength.
(b) occurred when building costs remained stable.
(c) occurred in the presence of sharply falling costs that anticipated the 1929 crash.
(d) was a result of the contractionary monetary policies of the Fed.

ANSWER

(b)