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Which Nobel laureate first introduced the concept of national income?
AAlfred Marshall
BSimon Kuznets
CRagnar Frisch
DPaul Samuelson
Answer & Solution
Correct answer: B. Simon Kuznets
1. National income provides a comprehensive measure of the economic activities of a nation and denotes the country's purchasing power.
2. The textbook states that Nobel laureate Simon Kuznets first introduced the concept of national income.
3. A boxed note in the same chapter describes him as the creator of GDP in 1932.
4. Marshall and Samuelson appear in the chapter for their definitions and epigraph respectively, and Frisch belongs to Chapter 1 for coining micro and macro.
_Source: TN HSC Class 12 Economics (Samacheer Kalvi, Govt of Tamil Nadu), Ch 2 "National Income", §2.1_
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