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Economists have a high regard for Paul Volcker because it was he who decided to have 12 regional banks.. it was he who designed the Fed to be the lender of last resort. O he was willing to be unpopular in order to do what he thought was the right thing. O he was able to cure the inflation problem without causing any harm to business owners. it was he who devised the system of national income accounts now known as GDP.

Economists have a high regard for Paul Volcker because it was he who decided to have 12 regional banks.. it was he who designed the Fed to be the lender of last resort. O he was willing to be unpopular in order to do what he thought was the right thing. O he was able to cure the inflation problem without causing any harm to business owners. it was he who devised the system of national income accounts now known as GDP.

Economics: Private and Public Choice (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter12: Fiscal Policy, Incentives, And Secondary Effects
Section: Chapter Questions
Problem 8CQ
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Economists have a high regard for Paul Volcker because it was he who decided to have 12 regional banks. it was he who designed the Fed to be the lender of last resort. O he was willing to be unpopular in order to do what he thought was the right thing. O he was able to cure the inflation problem without causing any harm to business owners. it was he who devised the system of national income accounts now known as GDP.
Transcribed Image Text:Economists have a high regard for Paul Volcker because it was he who decided to have 12 regional banks. it was he who designed the Fed to be the lender of last resort. O he was willing to be unpopular in order to do what he thought was the right thing. O he was able to cure the inflation problem without causing any harm to business owners. it was he who devised the system of national income accounts now known as GDP.
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