The development most responsible for the wide-spread introduction of macroeconomic models built upon solid microeconomic foundations was the
A)development of the Keynesian coordination failure model.
B)the work of Milton Friedman.
C)rational expectations revolution.
D)popularization of the Solow growth model.
E)work of John Maynard Keynes.

Question

Quizplus · Accepted Answer

The rational expectations revolution, which emphasized the importance of microeconomic foundations in macroeconomic models, led to the development of new modeling techniques and the widespread adoption of microfounded models.

The Development Most Responsible for the Wide-Spread Introduction of Macroeconomic