The development most responsible for the wide-spread introduction of macroeconomic models built upon solid microeconomic foundations was the
A) development of the Keynesian coordination failure model.
B) the work of Milton Friedman.
C) work of John Maynard Keynes.
D) popularization of the Solow growth model.
E) rational expectations revolution.

Question

Quizplus · Accepted Answer

The rational expectations revolution emphasized the importance of microeconomic foundations in macroeconomic models, leading to the development of models that incorporate individual behavior and expectations.

The Development Most Responsible for the Wide-Spread Introduction of Macroeconomic