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Question
Fill in the blank
The credit of development of macroeconomic approach must go to ________.
Options
Dr.Marshall
Prof. Pigou
Lord Keynes
Mrs. Joan Robinson
MCQ
Fill in the Blanks
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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”.
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