Question
“The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money.”–– Who says this ?
Answer: Option A
Answer: (a)
British economist John Hicks said that National income is a collection of goods and services reduced to a common basis by being measured in terms of money. Hicks was one of the most important and influential economists of the twentieth century.
The most familiar of his many contributions in the field of economics were his statement of consumer demand theory in microeconomics, and the IS/LM model (1937), which summarized a Keynesian view of macroeconomics.
His book Value and Capital (1939) significantly extended general-equilibrium and value theory.
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Answer: (a)
British economist John Hicks said that National income is a collection of goods and services reduced to a common basis by being measured in terms of money. Hicks was one of the most important and influential economists of the twentieth century.
The most familiar of his many contributions in the field of economics were his statement of consumer demand theory in microeconomics, and the IS/LM model (1937), which summarized a Keynesian view of macroeconomics.
His book Value and Capital (1939) significantly extended general-equilibrium and value theory.
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