Step 1: Understanding the Concept:
The photoelectric effect is the emission of electrons from a metal surface when light falls on it. The ease of emission depends on the work function (ionization energy) of the metal.
Step 2: Detailed Explanation:
The photoelectric effect is more pronounced for metals with low work functions (low ionization energies). Ionization energy decreases down the alkali metal group. Cesium (Cs) has the lowest ionization energy among the given options (Li, Na, K, Cs). Therefore, it exhibits the maximum photoelectric effect.
Step 3: Final Answer:
Cesium (Cs) has the maximum photoelectric effect, which corresponds to option (D).