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Fill in the Blank the Credit of Development of Macroeconomic Approach Must Go to ________. - Economics

MCQ
Fill in the Blanks

Fill in the blank

The credit of development of macroeconomic approach must go to ________.

Options

  • Dr.Marshall

  • Prof. Pigou

  • Lord Keynes

  • Mrs. Joan Robinson

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Solution

The credit of development of macroeconomic approach must go to Lord Keynes.

Explanation:
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”.

Concept: Meaning and Features of Macro Economic
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 8 Introduction to Macro Economics
Exercise | Q 1.1 | Page 68
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