Who recognized the need to develop tools to analyze the macroeconomy as a whole?
A) Adam Smith
B) Karl Marx
C) John Maynard Keynes
D) Milton Friedman

Question

Quizplus · Accepted Answer

John Maynard Keynes recognized the need to develop tools to analyze the macroeconomy as a whole. He is known as the father of macroeconomics and his book "The General Theory of Employment, Interest and Money" laid the foundation for modern macroeconomic theory. Adam Smith is known for his contribution to the study of microeconomics, while Karl Marx focused more on the study of social and economic inequality. Milton Friedman is known for his work on monetarism, which is a theory related to macroeconomic policy.

Who Recognized the Need to Develop Tools to Analyze the Macroeconomy