#[0] Yes, the deflation that occurred during the Great Depression in the 1930s was partly due to a decrease in the money supply, which led to a sharp decrease in spending and investment. This decrease in spending and investment led to a further decrease in demand, which caused prices to fall even further. This vicious cycle caused a deflationary spiral, ultimately resulting in economic instability and widespread unemployment. The lesson learned from the Great Depression is that a stable and carefully managed money supply is essential to preventing economic downturns and ensuring stable economic growth.