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Who coined the terms 'macro' and 'micro' in 1933, to denote the two branches of economic theory? -

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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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