The shift from Keynesian strategies to the pursuit of price stability occurred first in
A) the United States.
B) Germany.
C) Britain.
D) France.
E) Japan.

Question

Quizplus · Accepted Answer

The shift from Keynesian strategies to the pursuit of price stability occurred first in Britain, following the election of Margaret Thatcher in 1979. She implemented a policy of monetarism, which emphasized controlling the money supply and reducing inflation, rather than stimulating demand through government spending. This approach was later adopted by other countries, including the United States under President Reagan and Germany under Chancellor Kohl.

The Shift from Keynesian Strategies to the Pursuit of Price