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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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