WBCS.LIVE practice question

Who is considered the 'Father of Macroeconomics' for his revolutionary theories during the Great Depression?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Adam Smith
  2. David Ricardo
  3. John Maynard Keynes
  4. Milton Friedman

Correct answer and explanation

Correct answer: John Maynard Keynes

Explanation: āœ… Correct Answer: C) John Maynard Keynes šŸ“š Explanation: J.M. Keynes is known as the Father of Macroeconomics because he shifted the focus of economic study from individual markets to the economy as a whole. His book, 'The General Theory of Employment, Interest, and Money', argued that government intervention is necessary to stabilize the economy during recessions. His ideas formed the basis of modern macroeconomic policy and fiscal management.