Question

Question was provided via image upload.

Explanation:

1. Analyze the graph: The red bars (price decreases) are in 1921 - 1922.
2. Check each option:

• Red Scare began around 1919 - 1920, not matching 1921 - 1922.
• Warren G. Harding was president from 1921 - 1923, which matches the deflation period (1921 - 1922).
• US involvement in WWI was 1917 - 1918, when prices were increasing (blue bars), not decreasing.

Answer:

B. the presidency of Warren G. Harding.