Quiznetik

Mathematics for Economic Analysis | Set 1

1. The objects constituting a set are called

Correct : B. elements

2. Who is regarded as the founder of theory of sets?

Correct : C. george cantor

3. A collection of well-defined distinct objects thought of as a whole is called

Correct : C. set

4. “No two elements of a set are identical”. This statement is

Correct : A. always true

5. A set containing no element is called

Correct : D. all the above

6. A set containing only one element is termed as

Correct : C. both (a) and (b)

7. A set of totality of elements from all possible sets is called

Correct : C. universal set

8. If two sets contain the same distinct elements, then they are called

Correct : A. equal sets

9. If two sets contain same number of distinct elements but not the same elements are called

Correct : C. equivalent sets

10. Sets and set operations can be represented by drawing diagrams termed as

Correct : B. venn diagrams

11. If every element of a set B is also an element of A, then

Correct : B. b is a subset of a

12. In Venn diagram, the universal set is represented by

Correct : A. points within a rectangle

13. “Null set is a proper subset of all the non-null sets”. This statement is

Correct : A. always true

14. Union of A with A, that is, A U A =

Correct : B. a itself

15. Union of A and the universal set is

Correct : C. universal set

16. Union of A and a null set is equal to

Correct : D. a

17. Union of A with B is same as union of B with A, that is, A U B = B U A is termed as

Correct : B. cumulative law of union

18. The associative law of union is

Correct : A. a u (b u c) = (a u b) u c = a u b u c

19. If B is a subset of A, then A U B =

Correct : B. a

20. If a set C contain all the elements which are present in both the sets A and B, then set C is called

Correct : B. intersection of a and b

21. If two sets do not have any common element, then they are called

Correct : C. disjoint sets

22. A set containing all the elements of the universal set except those of set A is called

Correct : A. complement of set a

23. The set of all elements belonging to A but not to B is

Correct : B. a – b

24. The set of all subsets of a set A is called

Correct : A. power set of a

25. Any number raise to the power zero is always equal to

Correct : B. one

26. The value of is

Correct : B. 32 x 7

27. A variable which is free to take any value we choose to assign to it is called

Correct : B. independent variable

28. The variable that stands alone on the left-hand side of the equation such as y = 2x + 1 is known as

Correct : A. dependent variable

29. The functions y = 2x + 1 and x = ½ y – ½ are said to be

Correct : B. inverse functions

30. A function where a variable x can only vary in jumps, is often called

Correct : C. step functions

31. The value of the dependent variable where the graph cuts the y-axis is called

Correct : B. y-intercept

32. The point at which the graph cuts the x-axis is called

Correct : A. x-intercept

33. A linear function of the form 6x – 2y + 8= 0 is known as

Correct : B. implicit function

34. If we are told that the two statements ‘y = 3x’ and ‘y = x + 10’ are both true at the same time, they are called

Correct : C. simultaneous equations

35. Solving the simultaneous equations 8x + 4y = 12 and -2x + y = 9 gives

Correct : A. x = -3/2 and y = 6

36. Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in the inverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called

Correct : A. supply price

37. The equilibrium price and quantity, given the inverse demand and supply functions pD =-3q + 30 and pS = 2q – 5

Correct : A. p = 9 and q = 7

38. Given any quadratic equation a x2 + b x + c = 0, where a, b, and c are given constants, the solutions (roots) are given by the formula

Correct : A. x =

39. The simplest case of a quadratic function is

Correct : A. y = x2

40. The simplest form of rectangular hyperbola is

Correct : A. y = 1/x

41. A possible use in economics for the circle or the ellipse is to model

Correct : A. production possibility curve

42. A consumer’s income or budget is 120. She buys two goods, x and y, with prices 3 and 4 respectively. Then the budget constraint can be expressed as

Correct : B. 3x + 4y = 120

43. A determinant composed of all the first-order partial derivatives of a system of equations, arranged in ordered sequence is called

Correct : B. jacobian determinant

44. If the value of the Jacobian determinant = 0, the equations are

Correct : A. functionally dependent

45. If the value of the Jacobian determinant , the equations are

Correct : B. functionally independent

46. A Jacobian determinant is used to test

Correct : C. both linear and non-linear functional dependence between equations

47. A determinant composed of all the second-order partial derivatives, with the second-order direct partials on the principal diagonal and the second-order cross partials off the principal diagonal, and which is used to second order condition of optimization is called

Correct : B. hessian determinant

48. A positive definite Hessian fulfills the second-order conditions for

Correct : B. minimum

49. A negative definite Hessian fulfills the second order conditions for

Correct : A. maximum

50. The determinant of a quadratic form is called

Correct : C. discriminant

51. A mathematical statement setting two algebraic expressions equal to each other is called

Correct : A. equation

52. An equation in which all variables are raised to the first power is known as

Correct : A. linear equation

53. The slope of a horizontal line is

Correct : B. zero

54. The slope of a vertical line is

Correct : D. undefined

55. An iso-cost line represents

Correct : A. different combinations of two inputs that can be purchased with a given sum of money

56. (A+B)+C = A+(B+C). This law of matrices is known as

Correct : B. associative law

57. (A+B) = (B+A). this law of matrices is known as

Correct : A. cumulative law

58. k (A+B) = kA + kB. This law of matrices is known as

Correct : C. distributive law

59. If in a matrix, the number if rows is the same as the number of columns, it is called

Correct : C. square matrix

60. In a matrix, if there is only one row but any number of columns, it is called

Correct : D. both a & c

61. If all the elements of a matrix of any order are zero, it is called

Correct : D. both b & c

62. A square matrix with 1’s in its principal diagonal and zeros everywhere else is

Correct : B. identity matrix

63. A square matrix A, such that A = A’, is called a

Correct : A. symmetric matrix

64. If the determinant formed by the elements of the matrix A is equal to zero, then the matrix is

Correct : C. singular

65. The matrix A multiplied by its inverse will be a

Correct : A. identity matrix

66. A inverse is defined only if A is a

Correct : A. square matrix

67. the sufficient condition required for the matrix to possess inverse is that the matrix should be

Correct : C. non-singular matrix

68. which method is used for finding inverse of a matrix

Correct : D. both a & c

69. A matrix with all elements zero other than all the diagonals is called

Correct : A. diagonal matrix

70. Find the co-factor A23 of the matrix A =

Correct : D. -7

71. A diagonal matrix whose diagonal elements are equal is called

Correct : C. scalar matrix

72. A square matrix A of order mxn is called an upper triangular matrix if aij = o for all

Correct : A. i > j

73. If A & B are symmetric matrices, then A + B is

Correct : A. symmetric

74. For any square matrix A of order ‘n’, A +AT is

Correct : C. symmetric

75. For any square matrix A of order ‘n’, A - AT is

Correct : A. skew symmetric

76. If matrix A is comfortable for multiplication the (AB)T is equal to

Correct : B. btat

77. If A is a square matrix of order ‘n’ and I is the unit matrix of the same order, then AI is equal to

Correct : D. both (a) & (b)

78. The signed minor of the matrix A is called

Correct : B. co-factor

79. The determinant of a matrix and that of its transpose are

Correct : A. equal

80. If two rows or columns of a determinant A are identical, then the value of the determinant is ...

Correct : B. zero

81. If every element of a raw or column of a square matrix A is zero, then the value of the determinant is

Correct : C. zero

82. If each element of a raw or column is a sum of two elements, the determinant can be expressed as the

Correct : A. sum of two determinants

83. A square matrix A such that A2 = A is called

Correct : C. idempotent matrix

84. If A& B are symmetric matrix, then AB – BA is

Correct : B. skew symmetric matrix

85. The transpose of the cofactor matrix is called

Correct : A. adjoint of the matrix

86. For any square matrix A of order ‘n’, A(Adj A) is equal to

Correct : D. both a & b

87. If AΠ B = Ø , then A and B are called

Correct : A. disjoint set

88. Matrix multiplication does not satisfy --------- law

Correct : C. commutative

89. Y= a0+a1X is a function

Correct : D. linear

90. Relation between two numbers or variables are called

Correct : B. binary relation

91. If B is a subset of A , then A is a -------- of B

Correct : A. super set

92. the elements in the horizontal line in a matrix is called

Correct : B. rows

93. If matrix A is of mxn dimension, then At will be --------- dimension

Correct : A. nxm

94. If A=At , then A is

Correct : A. symmetric matrix

95. Given S1={a,b,c}S2={a,1,2}, then (S1-S2) Π (S2-S1) is

Correct : D. null set

96. The set of “stars in the sky” is an example of

Correct : B. infinite set

97. Ordered pairs of two sets are called

Correct : A. elements

98. AB=BA=I, then B is said to be -------- matrix of A

Correct : B. inverse

99. Determinant of triangular matrix is the product of

Correct : A. diagonal elements

100. If IAI=24. then the determinant of its transpose is

Correct : C. 24