Home › Tamil Nadu HSC (Class 12) › Economics › Introduction to Macro Economics › Who coined the words 'micro' and 'macro' in econ…
Who coined the words 'micro' and 'macro' in economics, in the year 1933?
ARagnar Frisch
BAdam Smith
CJ. M. Keynes
DKarl Marx
Answer & Solution
Correct answer: A. Ragnar Frisch
1. Economics is classified into two branches, micro economics and macro economics.
2. Ragnar Frisch, a Norwegian economist, coined the words micro, meaning small, and macro, meaning large, in the year 1933.
3. He was a co-recipient of the first Nobel Prize in Economic Sciences.
4. Keynes shaped modern macro economics but did not coin the term, and Smith and Marx belong to the discussion of economic systems.
_Source: TN HSC Class 12 Economics (Samacheer Kalvi, Govt of Tamil Nadu), Ch 1 "Introduction to Macro Economics", §1.1_
Related questions
In the circular flow diagram, what do the outer and inner circles respectively represent?Globalism, the ideology connecting nations through international trade, is also termed:A socialist economy is also known by which other names?The limitation of macro economics captured by the phrase 'what is good for an individual nIn a capitalist economy, which mechanism does the textbook describe as the heart of the syThe three-sector circular flow model represents which kind of economy?Which circular flow model represents an open economy, and what is its income identity?The two sectors in a two-sector circular flow model are: