"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) Adam Smith
B) John Maynard Keynes
C) Milton Friedman
D) Paul Samuelson

Question

Quizplus · Accepted Answer

This statement was made by Milton Friedman, a well-known economist who advocated for monetary policy as a tool to stabilize the economy. He argued that monetary instability, such as frequent ups and downs in interest rates or money supply, can lead to economic contractions or inflations. Friedman's ideas have been influential in shaping the role of central banks in managing monetary policy.

"Every Major Contraction in the U