The study of macroeconomics as a specific discipline is due primarily to:
A) Adam Smith.
B) John Maynard Keynes.
C) Milton Friedman.
D) Joseph Schumpeter.

Question

Quizplus · Accepted Answer

While Adam Smith is considered the founder of economics, macroeconomics as a specific discipline developed in response to the Great Depression. John Maynard Keynes was one of the most influential figures in shaping macroeconomic theory and policy during this time. He developed the concept of aggregate demand and argued that government intervention could stabilize the economy during periods of recession. Friedman and Schumpeter were also influential economists, but their work focused more on microeconomics and economic growth, respectively.

The Study of Macroeconomics as a Specific Discipline Is Due