Question

The terms of Micro Economics and Macro Economics were coined by Norwegian Economist .................

• A. Adam Smith
• B. J.M. Keynes
• C. J.B. Say
• D. Ragnar Frisch

Hint:

Ragnar Frisch played a pivotal role in the development of modern macroeconomics and econometrics.

Answer 1

The Correct Option is D

Step 1: Recall the background.
Ragnar Frisch was a Norwegian economist who introduced the distinction between Microeconomics and Macroeconomics in the 1930s.

Step 2: Analyze the options.
- Adam Smith was a classical economist but not the one who coined these terms.
- J.M. Keynes focused on aggregate demand and government intervention, but didn't coin these terms.
- J.B. Say was a French economist known for Say's Law, but didn't coin these terms either.
- Ragnar Frisch is the correct answer, as he coined these terms in the 1930s.

Step 3: Conclude.
Thus, Ragnar Frisch was the economist who coined the terms Microeconomics and Macroeconomics.

Final Answer: \[ \boxed{Ragnar \; Frisch} \]