Which of the following Nobel laureates in economics is best known for his contribution to the importance of how institutions impact economic outcomes and human behavior?
A) Milton Friedman.
B) Robert Lucas.
C) Gary Becker.
D) Douglass North.

Question

Quizplus · Accepted Answer

Douglass North is best known for his contribution to new institutional economics, which emphasizes the importance of institutions such as laws, customs, and traditions in shaping economic outcomes and human behavior.

Which of the Following Nobel Laureates in Economics Is Best