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Question
Who coined the terms 'macro' and 'micro' in 1933, to denote the two branches of economic theory?
Options
Adam Smith
Paul A. Samuelson
Prof. Robbins
Ragnar Frisch
MCQ
Solution
Ragnar Frisch
Explanation:
There was only one type of economics prior to 1930. In 1933, Ragnar Frisch invented the terms 'micro' and 'macro' to designate the two disciplines of economic theory, microeconomics, and macroeconomics, respectively.
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Meaning of Macro Economics
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