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Name the major figures in the history of macroeconomics and what their contribution was
Name the major figures in the history of macroeconomics and what their contribution was.
Expert Solution
These are individuals who study how limited resources such as land, labor, raw resources, and technology are used by society to generate goods and services.
Well-known economists and their contributions
The Keynesian John Maynard
Keynes 's contributions include a variety of mainly functional economic concepts, such as liquidity-like, fiscal multiplier, deficit spending, and aggregate demand for aggregate supply.
Adam Smith:
Smith 's involvement in economics comes from his renowned works The Theory of Moral Sentiments and The Wealth of Nations.
David Ricardo's
He is a British political economist who has taken part in the foundation of classical economics. His greatest involvement in economics was his comparative / relative benefit theory.
Ludwig of Mises
He is widely recognized for his work on praxeology, that is, the deductive study of human dealings, which recommends that people engage in focused manners. His part in the field of economics is through his works, such as The Theory of Money and Credit, and Socialism.
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