Arrange the introduction of the following concepts in chronological order (oldest to latest)
A. Adaptive expectation hypothesis by Friedman.
B. Relative income hypothesis by Duesenberry.
C. Efficiency wage hypothesis by Stiglitz.
D. Rational expectation hypothesis by Lucas.
E. Effective demand problem by Kalecki
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Schools of economic thought and methodology has come up 67 times in 5 exams since 2011.
This question is on Chronology and attribution across schools of thought, part of Schools of economic thought and methodology in Macroeconomics.
Placing economists, works and ideas in order and matching them to their authors.
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Question from the UGC-NET 2024 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.