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GS Paper IUPSC Prelims 1998
Miscellaneous
Question No. 199Interactive Test Mode
00:00
+2-0.66

Q199. Nobel Prize in Economics for the year 1997 was awarded for contribution in the area of:

Nobel Prize in Economics for the year 1997 was awarded for contribution in the area of:

Select the correct option below (or cross out options to eliminate)
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Official Answer Key & Detailed Solution

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Official UPSC Answer KeyUPSC Prelims 1998 • General Knowledge (1995-2010)

Correct Answer: Option (B) — Financial Economics

Concept & Option Breakdown

Standard Reference Verified

The 1997 Nobel Memorial Prize in Economic Sciences was awarded jointly to Robert C. Merton and Myron S. Scholes for developing a new method to determine the value of derivatives (the Black-Scholes-Merton model), a major breakthrough in Financial Economics.

Elimination Heuristic & Exam Approach

The Black-Scholes formula is universally known as a milestone in financial derivatives pricing.

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Question Specifications & Syllabus Mapping

Examination & YearUPSC Civil Services Preliminary Examination 1998 (Q199)
Paper & Marking SchemeGS Paper I • 2 Marks (-0.66 Negative for incorrect response)
Syllabus Subject & TopicGeneral Knowledge (1995-2010) → Miscellaneous
Official Answer KeyOption (B) — Financial Economics

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Frequently Asked Questions — UPSC Prelims 1998 Q199

What is the official answer for UPSC Prelims 1998 GS Paper I Question 199 (General Knowledge (1995-2010))?

The official UPSC answer key for this 1998 General Knowledge (1995-2010) (Miscellaneous) question is Option (B): "Financial Economics". Correct attempts carry 2 Marks with -0.66 Negative penalty for wrong answers.

Which UPSC Prelims syllabus topic does this 1998 question belong to?

This question belongs to GS Paper I under the subject "General Knowledge (1995-2010)" and micro-topic "Miscellaneous". You can explore all repeated questions from Miscellaneous in Acme AI's 3D Prelims PYQ Realm or practice 50 full-length and sectional tests in the APT Prelims Test Series.

How can I solve this Miscellaneous UPSC Prelims question using option elimination?

The BlackScholes formula is universally known as a milestone in financial derivatives pricing.

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