The Nobel Prize in Economic Sciences was instituted in 1968 by
- A.The Nobel Foundation
- B.The central bank of Sweden
- C.The Swedish Academy
- D.The Norwegian parliament
Correct answer
B. The central bank of Sweden
Explanation
The correct answer is B, the central bank of Sweden. Sveriges Riksbank founded the prize in 1968 to mark its three hundredth anniversary, and it was awarded for the first time in 1969. Its formal name is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, and the Royal Swedish Academy of Sciences selects the laureates.
Option A, the Nobel Foundation, administers the funds left by Nobel and organises the ceremony, but it did not create this prize. Option C, the Swedish Academy, is the body that chooses the Literature laureate. Option D, the Norwegian parliament, appoints the committee that awards the Peace Prize. The point examiners test is that Economics is not one of the five prizes named in Nobel's will, which is why it is described as being in memory of him.
Read the full article: Nobel Prizes: Origin, Categories and Indian Winners
Practice Questions
View allThe Nobel Prizes were instituted under the will of
- A.Alfred Nobel
- B.Andrew Carnegie
- C.Joseph Pulitzer
- D.Cecil Rhodes
Show answer
Correct answer: A. Alfred Nobel
Explanation
The correct answer is A, Alfred Nobel. The Swedish chemist who invented dynamite signed his last will in 1895 and left most of his fortune to endow prizes for those who had conferred the greatest benefit on mankind. He died on 10 December 1896 and the first prizes were awarded in 1901.
Option B, Andrew Carnegie, endowed libraries and a peace foundation but no prize of this name. Option C, Joseph Pulitzer, left money for the Pulitzer Prizes in journalism, letters and music, awarded in the United States, and his name is the one most often substituted here. Option D, Cecil Rhodes, endowed the Rhodes Scholarships at Oxford, not a prize. Keep the founder with the two dates that always follow him in a paper: the will of 1895 and the first awards in 1901.
In which year were the Nobel Prizes awarded for the first time?
- A.1895
- B.1896
- C.1901
- D.1913
Show answer
Correct answer: C. 1901
Explanation
The correct answer is C, 1901. Alfred Nobel's estate had to be settled and the Nobel Foundation established before any prize could be given, so the first awards came five years after his death. The first Peace Prize went jointly to Henry Dunant, founder of the Red Cross, and Frederic Passy.
Option A, 1895, is the year Nobel signed his will, and the date candidates confuse most often with the first award. Option B, 1896, is the year of his death, on 10 December, which is why the ceremony is held on that date every year. Option D, 1913, is the year Rabindranath Tagore won the Literature Prize, an Indian landmark rather than a founding date. Hold the sequence in one line: will 1895, death 1896, first prizes 1901.
The Nobel Peace Prize is presented in which city?
- A.Stockholm
- B.Oslo
- C.Geneva
- D.Copenhagen
Show answer
Correct answer: B. Oslo
Explanation
The correct answer is B, Oslo. Alfred Nobel's will directed that the Peace Prize be decided by a committee appointed by the Norwegian parliament, while the other prizes were left to Swedish institutions, and the Peace Prize is therefore announced and presented in the Norwegian capital.
Option A, Stockholm, is where every other prize is presented, including Economic Sciences, so it is the answer for five of the six categories and the natural wrong choice here. Option C, Geneva, is the headquarters of the International Committee of the Red Cross and of many United Nations bodies, which makes it sound plausible in a question about peace. Option D, Copenhagen, the capital of Denmark, has no connection with the prize at all. Remember the split in one sentence: Peace in Oslo, everything else in Stockholm.
Who was the first Indian and the first Asian to be awarded a Nobel Prize?
- A.C. V. Raman
- B.Rabindranath Tagore
- C.Mother Teresa
- D.Har Gobind Khorana
Show answer
Correct answer: B. Rabindranath Tagore
Explanation
The correct answer is B, Rabindranath Tagore, who received the Prize in Literature in 1913 for Gitanjali, becoming the first Asian to win a Nobel Prize in any category. He also wrote the national anthems sung in India and in Bangladesh.
Option A, C. V. Raman, won the Physics Prize in 1930 for the scattering of light named after him, which makes him the first Asian to win in a science but not the first Asian laureate overall; this is the distinction the question is built on. Option C, Mother Teresa, received the Peace Prize in 1979 for her work in Kolkata. Option D, Har Gobind Khorana, shared the Medicine Prize in 1968, by which time he was a citizen of the United States. Keep the two firsts apart: Tagore 1913 for any prize, Raman 1930 for a science.
C. V. Raman was awarded the Nobel Prize in which category?
- A.Chemistry
- B.Physics
- C.Physiology or Medicine
- D.Economic Sciences
Show answer
Correct answer: B. Physics
Explanation
The correct answer is B, Physics. Chandrasekhara Venkata Raman received the Prize in 1930 for his work on the scattering of light, in which a part of the scattered light changes wavelength, an effect that carries his name and gave chemists a powerful method of studying molecules.
Option A, Chemistry, is the category in which Venkatraman Ramakrishnan won in 2009 for work on the structure of the ribosome, and the similarity of the names makes this the most common error in the question. Option C, Medicine, was Har Gobind Khorana's category in 1968. Option D, Economic Sciences, was Amartya Sen's in 1998 and Abhijit Banerjee's in 2019. Fix each Indian laureate with a category and a year, because the paper asks for the pairing far more often than for the achievement.