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
Choose the correct answer from the options given below:
1
E, A, B, C, D
2
B, A, E, C, D
3
B, A, D, C, E
4
E, B, A, D, C