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The term ‘Macro Economics’ was used by __________ .
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- J.M. Keynes
- Ragner Frisch
- Ragner Nurkse
- Prof. Knight
- J.M. Keynes
Correct Option: B
Ragnar Frisch coined the widely-used term pair macroeconomics/microeconomics in 1933. He was a Norwegian economist and the co-recipient of the first Nobel Memorial Prize in Economic Sciences in 1969. He is known for having founded the discipline of econometrics.