Mathematical Economics and Econometrics Solved MCQs

1.	The measurement of economic data:
A.	mathematical
B.	econometrics
C.	business
D.	statistics
Answer» B. econometrics

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2.	An identity between two alternative:
A.	behavioral
B.	definitional
C.	conditional
D.	none
Answer» B. definitional

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3.	The relationship between the price of the commodity and quantity of the commodity demanded :
A.	supply
B.	demand
C.	elasticity
D.	none
Answer» B. demand

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4.	The relation of Price and quantity demanded:
A.	negative
B.	positive
C.	no relation
D.	none
Answer» B. positive

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5.	The relationship between the price of the commodity and quantity of the commodity supplied:
A.	demand
B.	equilibrium
C.	supply
D.	none
Answer» C. supply

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6.	The wants satisfying power of a commodity:
A.	consumption
B.	saving
C.	utility
D.	interest
Answer» C. utility

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7.	Consumption function is given C = 35 + .4 Yd , find MPC:
A.	.4
B.	.6
C.	.8
D.	.7
Answer» A. .4

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8.	The relationship between income and consumption:
A.	consumption
B.	saving
C.	investment
D.	none
Answer» A. consumption

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9.	The transformation of physical inputs in to physical outputs:
A.	production
B.	consumption
C.	distribution
D.	investment
Answer» A. production

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10.	The difference between total revenue and the total Cost:
A.	cost
B.	income
C.	profit
D.	revenue
Answer» C. profit

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11.	MPS + MPC =?
A.	2
B.	0
C.	1
D.	3
Answer» C. 1

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12.	The difference between the present level of income and the past level of income:
A.	saving
B.	consumption
C.	investment
D.	none
Answer» C. investment

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13.	The first derivative of the consumption function is:
A.	marginal revenue
B.	marginal cost
C.	marginal propensity to consume
D.	none
Answer» C. marginal propensity to consume

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14.	Revenue function TR = 22x²+14, find Marginal revenue?
A.	44x
B.	40x
C.	22x
D.	54x
Answer» A. 44x

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15.	The addition to total cost:
A.	mc
B.	ac
C.	tc
D.	none
Answer» A. mc

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16.	The proportionate change in quantity demanded and the proportionate change in price is:
A.	price elasticity
B.	income elasticity
C.	cross elasticity
D.	none
Answer» A. price elasticity

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17.	MRSxy is equal to:
A.	mux/muy
B.	mpx/mpy
C.	mrts
D.	none
Answer» A. mux/muy

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18.	Marginal rate of technical substitution is equal to:
A.	mux/muy
B.	mpl/mpk
C.	mrsxy/mrs
D.	mrx/mry
Answer» B. mpl/mpk

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19.	The ratio of the proportionate change in the quantity purchased of a good to the proportionate change in income:
A.	price elasticity
B.	income elasticity
C.	cross elasticity
D.	none
Answer» B. income elasticity

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20.	An increase in income lead to the increase in quantity demanded of the good:
A.	negative good
B.	positive good
C.	superior good
D.	normal good
Answer» C. superior good

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21.	The relationship between quantity demanded of a good and level of consumer’s income:
A.	engel function
B.	consumption function
C.	saving function
D.	none
Answer» A. engel function

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22.	The proportionate change in quantity demanded by a good due to proportionate change in the price of the other good:
A.	price elasticity
B.	income elasticity
C.	cross elasticity
D.	demand elasticity
Answer» C. cross elasticity

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23.	Given the utility function U = 5x²+12x, find Marginal utility:
A.	5+12
B.	10x+12
C.	12x 10
D.	10x +12x
Answer» B. 10x+12

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24.	The first order derivative of Total Utility:
A.	mu
B.	tu
C.	au
D.	none
Answer» A. mu

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25.	The transformation of physical inputs in to outputs:
A.	production function
B.	consumption function
C.	saving function
D.	none
Answer» A. production function

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Mathematical Economics and Econometrics Solved MCQs

The measurement of economic data:

An identity between two alternative:

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

The relation of Price and quantity demanded:

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

The wants satisfying power of a commodity:

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

The relationship between income and consumption:

The transformation of physical inputs in to physical outputs:

The difference between total revenue and the total Cost:

MPS + MPC =?

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

The first derivative of the consumption function is:

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

The addition to total cost:

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

MRSxy is equal to:

Marginal rate of technical substitution is equal to:

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

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

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

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

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

The first order derivative of Total Utility:

The transformation of physical inputs in to outputs:

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