The 1979 Nobel Prize in Economics was awarded to________________?
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Answer: C. Both a and b
Explanation
The 1979 Nobel Prize in Economics was jointly awarded to W. Arthur Lewis and Theodore Schultz for development economics research. Both economists made monumental contributions to understanding economic growth in developing nations. Their pioneering work bridged agricultural economics and macroeconomics. W. Arthur Lewis was recognized for his dual-sector labor surplus model. Theodore Schultz received the prize for his foundational research on human capital and agriculture. Together, they shaped modern development economics paradigms.
Their research transformed how international organizations approach aid and poverty alleviation. Emphasizing human capital and labor mobility revolutionized global economic policy. Their legacy endures in contemporary studies of economic development. Options A and B name each scholar individually, which is incomplete since both won the prize. Option D is incorrect because both researchers received the award jointly in 1979.
- Subject
- Agriculture
- Category
- Agriculture
- Topic
- —
- Difficulty
- medium
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