In the U.S., consumer prices fell sharply from 1929-1933, the early years of the Great Depression. How did this price deflation worsen the Great Depression?
A. The cost of living rose significantly, while people were already struggling to find jobs.
B. Borrowers took out too many risky loans because of increased access to credit.
C.Banks were less willing to lend money because deflation lowered the real interest rate they received from borrowers.
D. Households delayed spending because they expected prices to fall in the future.