Which of the following statements can be supported based on an analysis of the relationship between various indices of stock prices, such as the S&P 500, interest rates, and the monetary base?
A. Increases in the monetary base between 2009 and 2015 fueled the growth in stock prices.
B. Increases in the monetary base between 2009 and 2015 kept interest rates at a relatively low levels.
C. Low interest rates contributed to rapid increases in stock prices over the period between 2009 and 2015.
D. All of the above are supported by the analysis.