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Microeconomics

The terms mic...

Question

The terms micro economics and macro economics were coined by ______________.

A

Prof. A Samuelson

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B

Griffin

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C

Eagle

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D

Prof. Ragner Frisch

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Solution

The correct option is A Prof. Ragner Frisch
Ragnar Anton Kittil Frisch was a Norwegian economist . He coined the term micro economics and macro economics .Macro economics deals the economy as a whole. In micro economics , study of economics is done from an individual point of view.

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Q. Match the pairs.

	Group "A"		Group "B"
(1)	Adam Smith	(a)	Principles of Economics
(2)	Micro Economics	(b)	Aggregates
(3)	Macro Economics	(c)	Prof. Boulding
(4)	Dr. Marshall	(d)	Father of Economics
(5)	Theory of Welfare	(e)	Individual Units
		(f)	Economic Efficiency

Q. The terms 'micro' and 'macro' economics were first used by ________.

Q. The term micro and macro economics were first used by ________.

Q. Micro and Macro Economics were coined by ________during the twenties, and since then they are frequently used by economists for economic analysis.

Q. Fill in the blanks with appropriate alternatives given in the brackets.

1) The terms Micro and Macro Economics were first used by _______________. (Adam Smith/ Robbins/ Ragner Frisch/ Marshall).

2) Micro Economics is a study of _________. (Whole economy/ general price level/ National output/ Individual economic unit).

3) Micro Economics is also called as ________________. (Income theory/ Price theory/ Growth theory/ Employment theory)

4) Micro Economic analysis adopts __________________ method. (lumping/ aggregative/ Slicing/ inclusive)

5) Micro Economics is a __________________________ equilibrium approach. (partial/ general/ total/ multi-variable).

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