[amp_mcq option1=”1901″ option2=”1936″ option3=”1957″ option4=”1967″ correct=”option3″]<\/p>\n
The correct answer is: C. 1957<\/strong><\/p>\n The Nobel Prize in Economics is not a Nobel Prize in the strict sense, because Alfred Nobel did not establish it in his will. It was established in 1968 by the Sveriges Riksbank, Sweden’s central bank, in memory of Nobel. The prize is awarded by the Royal Swedish Academy of Sciences to those who have made “the most outstanding contribution to the development of economic science”.<\/p>\n The first Nobel Prize in Economics was awarded in 1969 to Ragnar Frisch and Jan Tinbergen “for their pioneering work in the field of econometrics”.<\/p>\n Option A: 1901 is the year that the first Nobel Prizes were awarded. The Nobel Prize in Economics was not established until 1968.<\/p>\n Option B: 1936 is the year that John Maynard Keynes published his book The General Theory of Employment, Interest and Money, which is considered to be one of the most important works in economics. However, the Nobel Prize in Economics was not established until 1968.<\/p>\n Option D: 1967 is the year that the Nobel Prize in Economics was first awarded. However, the prize was not established until 1968.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”1901″ option2=”1936″ option3=”1957″ option4=”1967″ correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[951],"tags":[],"class_list":["post-50201","post","type-post","status-publish","format-standard","hentry","category-books-and-authors","no-featured-image-padding"],"yoast_head":"\n