Arrange from oldest in the theory of money. A. Patinkin B. Fisher C. Friedman D. Marshall E. Keynes
Arranging the economists chronologically by the publication of their major works in the theory of money: (1) B. Irving Fisher ('The Purchasing Power of Money', 1911); (2) D.…
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Arrange from oldest in the theory of money.
A. Patinkin
B. Fisher
C. Friedman
D. Marshall
E. Keynes
Answer and explanation
Correct answer B
Arranging the economists chronologically by the publication of their major works in the theory of money: (1) B. Irving Fisher ('The Purchasing Power of Money', 1911); (2) D. Alfred Marshall (Cambridge Cash-Balances equation published in 1917 and 'Money, Credit and Commerce', 1923); (3) E. John Maynard Keynes ('A Treatise on Money', 1930 and 'The General Theory', 1936); (4) A. Don Patinkin ('Money, Interest, and Prices', 1956, building on his 1948–49 real-balance articles); and (5) C. Milton Friedman ('Studies in the Quantity Theory of Money', 1956). This sequence is B, D, E, A, C, which matches
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UGC NET Economics