Which Economist Made the Following Statement: "Every Major Contraction in the U.S

question 203

Multiple Choice

Which economist made the following statement: "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."

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

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Definitions:

Maturity Value

The amount payable to the investor at the end of a debt instrument's holding period or term.

Compounded Monthly

interest earned or paid is calculated and added to the account balance every month.

Promissory Note

A written promise to pay a specified amount of money to a certain individual or entity at a specified time or on demand.

Compounded Annually

Interest on an investment or loan that is calculated once a year and added to the principal amount, allowing the investment to grow at an increasing rate.