Who among the following first argued that in the face of high deficits, people save more?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. David Ricardo.
David Ricardo among the following first argued that in the face of high deficits, people save more. He was a British political economist. He was best known for his theory on wages and profit, the labor theory of value, the theory of comparative advantage, and the theory of rents.