Which sentence is not true?

(a)    Monetizing the budget deficit does not mean that the government increases the tax rate to raise more revenue.

(b)    The crowding out effect takes place when the central bank buys financial assets.

(c)    An expansionary fiscal policy causes, at least initially, an increase in aggregate demand.

(d)   The empirical evidence suggests that, in general, the higher the degree of independence of a central bank with respect to the government, the smaller the inflation rate of the economy.