Arrange the names of following economists chronologically in order of their Nobel prize awards…
Gunnar Myrdal shared the economics Nobel prize in 1974, Milton Friedman won it in 1976, W. Arthur Lewis shared it in 1979, Lawrence Klein won it in 1980 and Abhijit V.…
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Arrange the names of following economists chronologically in order of their Nobel prize awards (starting from earliest to the latest):
(A) Arthur Lewis
(B) Gunnar Myrdal
(C) Milton Friedman
(D) A.V. Banerjee
(E) Lawrence Klein
Answer and explanation
Correct answer A
Gunnar Myrdal shared the economics Nobel prize in 1974, Milton Friedman won it in 1976, W. Arthur Lewis shared it in 1979, Lawrence Klein won it in 1980 and Abhijit V. Banerjee shared it in 2019. The order from earliest is B, C, A, E, D. Lewis's award came after Friedman's, so a sequence placing Lewis second is wrong.
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UGC NET Economics