​Arrange the names of the following economists chronologically in order of their Nobel Prize awards (starting from earliest to the latest):
(A) Arthur Lewis
(B) Gunnar Myrdal
(C) Milton Friedman
(D) A.V. Banerjee
(E) Lawrence Klein​
​Choose the correct answer from the options given below :​

Correct option is A

Correct  Answer: 1. (B), (C), (A), (E), (D)
Explanation: 
The chronological order of the Nobel Memorial Prize in Economic Sciences for the listed economists is as follows:

• Gunnar Myrdal (1974): Awarded jointly with Friedrich Hayek for their pioneering work in the theory of money and economic fluctuations.
  
• Milton Friedman (1976): Awarded for his achievements in the fields of consumption analysis, monetary history and theory, and demonstration of the complexity of stabilization policy.
  
• Arthur Lewis (1979): Awarded jointly with Theodore Schultz for their pioneering research into economic development research with particular consideration of the problems of developing countries (Lewis Model).
  
• Lawrence Klein (1980): Awarded for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies.
  
• Abhijit Vinayak Banerjee (2019): Awarded jointly with Esther Duflo and Michael Kremer for their experimental approach to alleviating global poverty.
  

Information Booster:

• Dual Sector Model: Sir Arthur Lewis is best known for the "Lewis Model," which explains the transition of labor from the subsistence (agricultural) sector to the capitalist (industrial) sector.
  
• Monetarism: Milton Friedman challenged Keynesian economics, famously stating, "Inflation is always and everywhere a monetary phenomenon."
  
• Randomized Control Trials (RCTs): Abhijit Banerjee revolutionized development economics by using field experiments (RCTs) to test the effectiveness of social policies.
  

Additional Information:

• Asian Drama: Gunnar Myrdal is also famous for his book "Asian Drama: An Inquiry into the Poverty of Nations," analyzing poverty in South Asia.
  
• Project LINK: Lawrence Klein initiated this project to integrate econometric models from different countries to study the transmission of international business cycles.