What was the response to Germany's expansionary fiscal policy from the German central bank, the Bundesbank?
A) It expanded the money supply to ease rates of interest.
B) It made no policy changes.
C) It contracted the money supply and raised interest rates.
D) It began the process of reverting to a gold standard.
Ans: C) It contracted the money supply and raised interest rates.
Economics
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Which economist first identified an inverse relationship between rates of inflation and rates of unemployment?
a. John M. Keynes b. A. W. Phillips c. Robert Barro d. Adam Smith e. Arthur Laffer
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