Quiznetik

Mathematical Economics and Econometrics | Set 1

1. The measurement of economic data:

Correct : B. econometrics

2. An identity between two alternative:

Correct : B. definitional

3. The relationship between the price of the commodity and quantity of the commodity demanded :

Correct : B. demand

4. The relation of Price and quantity demanded:

Correct : B. positive

5. The relationship between the price of the commodity and quantity of the commodity supplied:

Correct : C. supply

6. The wants satisfying power of a commodity:

Correct : C. utility

7. Consumption function is given C = 35 + .4 Yd , find MPC:

Correct : A. .4

8. The relationship between income and consumption:

Correct : A. consumption

9. The transformation of physical inputs in to physical outputs:

Correct : A. production

10. The difference between total revenue and the total Cost:

Correct : C. profit

11. MPS + MPC =?

Correct : C. 1

12. The difference between the present level of income and the past level of income:

Correct : C. investment

13. The first derivative of the consumption function is:

Correct : C. marginal propensity to consume

14. Revenue function TR = 22x²+14, find Marginal revenue?

Correct : A. 44x

15. The addition to total cost:

Correct : A. mc

16. The proportionate change in quantity demanded and the proportionate change in price is:

Correct : A. price elasticity

17. MRSxy is equal to:

Correct : A. mux/muy

18. Marginal rate of technical substitution is equal to:

Correct : B. mpl/mpk

19. The ratio of the proportionate change in the quantity purchased of a good to the proportionate change in income:

Correct : B. income elasticity

20. An increase in income lead to the increase in quantity demanded of the good:

Correct : C. superior good

21. The relationship between quantity demanded of a good and level of consumer’s income:

Correct : A. engel function

22. The proportionate change in quantity demanded by a good due to proportionate change in the price of the other good:

Correct : C. cross elasticity

23. Given the utility function U = 5x²+12x, find Marginal utility:

Correct : B. 10x+12

24. The first order derivative of Total Utility:

Correct : A. mu

25. The transformation of physical inputs in to outputs:

Correct : A. production function

26. if all factors of production are increased in a given proportion, output also increased in a same proportion:

Correct : B. first degree

27. The amount of a productive factor that is essential to produce a unit of product is called:

Correct : A. technical coefficient

28. The ratio of the factors (K/L):

Correct : B. apl

29. Marginal rate of substitution between factors is equal to the ratio of :

Correct : B. mpl/mpk

30. The elasticity of substitution under cob- Douglas function:

Correct : B. 1

31. If ∝ + = 1 is related to:

Correct : A. constant

32. The percentage change in output caused by a given percentage change in a variable factor is:

Correct : A. output elasticity

33. If output is exhausted by the distributive shares of all factors:

Correct : A. euler theorem

34. Who is invented the linear programming technique:

Correct : B. george b danzig

35. Those which meet or satisfy the constraints of the problem:

Correct : C. feasible

36. one of the assumptions of LPP:

Correct : A. linearity

37. One of the applications of LPP:

Correct : B. diet problem

38. The term ‘econometrics’ was coined by:

Correct : C. ragner frisch

39. Error term serves the purpose of…………………….. assumption in economics:

Correct : D. none of the above

40. Econometrics model is ………….model.

Correct : D. either exogenous or endogenous

41. The starting point of econometric analysis is:

Correct : C. formulation of null hypothesis

42. Regressor refers to:

Correct : A. independent variable

43. In perfect linear model, we assume that regression coefficient remains………..

Correct : D. constant through out

44. In econometric models, t+1 indicates:

Correct : C. expected value

45. Quota sample is………………….sample.

Correct : B. non probability sample

46. When a north Indian town data and south Indian data are totaled, it leads to the problem of -------------aggregation.

Correct : C. spatial

47. In an econometric model, Y = ∞ + βX, ∞ shows,

Correct : A. intercept of the equation

48. Error term indicates

Correct : C. random variations

49. Among the following, which is an assumption of OLS

Correct : B. the relationship being estimated is identified

50. Linearity means

Correct : A. the ols estimates are linear function of random variable

51. The power of a statistical test is defined as,

Correct : A. 1-β

52. Standard error is defined as,

Correct : A. standard deviation of the sampling distribution

53. Student t test is preferred in the case of a,

Correct : A. small sample

54. Cobb Douglas production function is an example of :

Correct : B. double log model