Current Affairs · Awards and Honours
Consider the following statements regarding the 2025 Nobel Prize in Economic Sciences: Statement I: Joel Mokyr, Philippe Aghion, and Peter Howitt were awarded the prize for their research explaining innovation-driven economic growth. Statement II: Their work highlights how technological innovation and creative destruction drive sustained long-term growth. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.
- 2Statement I is correct, but Statement II is incorrect.
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.✓
Correct answer
Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
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