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Every major contraction in the U.S. Economy has either been created or greatly exacerbated by monetary instability. Every major inflation has been caused by monetary expansion. Which of the following economists made this statement?

a. Milton Friedman
b. John Maynard Keynes
c. Adam Smith
d. Paul Samuelson

Respuesta :

MsTeel

a. Milton Friedman

Milton Friedman was part of a group of economist in the mid-1900's known as the Monetarists. Monetarists believed that monetary instability is the major cause of big fluctuations in GDP, and that rapid monetary expansion causes inflation.

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