Who were the winners of the 2024 Nobel Prize in Economic Sciences?

In 2024, the Nobel Prize in Economic Sciences was awarded to Daron Acemoglu, Simon Johnson, and James Robinson for their groundbreaking research on the formation of political and economic institutions and their impact on national prosperity. This significant accolade emphasizes how these institutions influence living standards and economic development, providing insights into the disparities in income across different countries. Acemoglu and Johnson are affiliated with the Massachusetts Institute of Technology (MIT), while Robinson is associated with the University of Chicago, showcasing the esteemed academic backgrounds of the laureates. Their work not only highlights the critical role institutions play in economic success but also offers valuable guidance for policymakers aiming to foster sustainable growth​For further details on their contributions, you can explore the official Nobel Prize summary and additional resources.

 1. Who were the winners of the 2024 Nobel Prize in Economic Sciences?

A) Paul Krugman, Joseph Stiglitz, and Richard Thaler
B) Daron Acemoglu, Simon Johnson, and James Robinson
C) Abhijit Banerjee, Esther Duflo, and Michael Kremer
D) Thomas Piketty, Angus Deaton, and Gary Becker

Answer: B) Daron Acemoglu, Simon Johnson, and James Robinson

2. For what primary contribution were Acemoglu, Johnson, and Robinson awarded the Nobel Prize in 2024?

A) Their work on macroeconomic fluctuations
B) Their studies on monetary policy
C) Their research on the formation of institutions and their effects on prosperity
D) Their analysis of labor markets

Answer: C) Their research on the formation of institutions and their effects on prosperity

3. Which of the following institutions are associated with the 2024 Nobel laureates?

A) Harvard University
B) Stanford University
C) Massachusetts Institute of Technology (MIT)
D) University of California, Berkeley

Answer: C) Massachusetts Institute of Technology (MIT)

4. What aspect of economic development did the Nobel Committee highlight in relation to the laureates' research?

A) Global trade agreements
B) The role of technology in economics
C) The influence of political and economic institutions on living standards
D) Behavioral economics and consumer behavior

Answer: C) The influence of political and economic institutions on living standards

5. Which of the following statements best summarizes the impact of the laureates' work?

A) It focuses solely on quantitative analysis of economic data.
B) It emphasizes the importance of political and economic institutions in explaining disparities in income across nations.
C) It critiques existing economic policies without offering solutions.
D) It advocates for a return to classical economic theories.

Answer: B) It emphasizes the importance of political and economic institutions in explaining disparities in income across nations.