Fill in the blank
The credit of development of macroeconomic approach must go to ________.
Mrs. Joan Robinson
The credit of development of macroeconomic approach must go to Lord Keynes.
The need for a separate branch of economics, i.e., macroeconomics was felt inevitable during the period of The Great Depression (1929). It was then when Lord John Maynard Keynes, for the first time, used the macro approach in his book “General Theory of Employment, Interest and Money”.
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- Meaning and Features of Macro Economic