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Question
The terms Micro and Macro Economics were first used by ______.
Options
Adam Smith
Robbins
Ragner Frisch
Marshall
MCQ
Fill in the Blanks
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Solution
The terms Micro and Macro Economics were first used by Ragner Frisch.
Explanation:
Ragnar Frisch, a Norwegian economist, was the first to formally use the terms Microeconomics and Macroeconomics in the 1930s.
He is also considered one of the founders of econometrics and was awarded the first Nobel Memorial Prize in Economic Sciences in 1969, shared with Jan Tinbergen.
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