Macroeconomics emerged as a separate subject largely in response to:
A)Adam Smith's The Wealth of Nations.
B)Alfred Marshall's distinction between the long run and short run.
C)Irving Fisher's development of the quantity theory of money.
D)John M. Keynes's explanation of business cycles.

Question

Quizplus · Accepted Answer

Macroeconomics emerged as a distinct field in response to the Great Depression and was largely influenced by John Maynard Keynes's work, particularly his explanation of business cycles in "The General Theory of Employment, Interest, and Money," which addressed issues like unemployment and inflation at a national level.

Macroeconomics Emerged as a Separate Subject Largely in Response To