McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Arts in Economics (BA Economics) .
| 1. |
The measurement of economic data: |
| A. | mathematical |
| B. | econometrics |
| C. | business |
| D. | statistics |
| Answer» B. econometrics | |
| 2. |
An identity between two alternative: |
| A. | behavioral |
| B. | definitional |
| C. | conditional |
| D. | none |
| Answer» B. definitional | |
| 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 | |
| 4. |
The relation of Price and quantity demanded: |
| A. | negative |
| B. | positive |
| C. | no relation |
| D. | none |
| Answer» B. positive | |
| 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 | |
| 6. |
The wants satisfying power of a commodity: |
| A. | consumption |
| B. | saving |
| C. | utility |
| D. | interest |
| Answer» C. utility | |
| 7. |
Consumption function is given C = 35 + .4 Yd , find MPC: |
| A. | .4 |
| B. | .6 |
| C. | .8 |
| D. | .7 |
| Answer» A. .4 | |
| 8. |
The relationship between income and consumption: |
| A. | consumption |
| B. | saving |
| C. | investment |
| D. | none |
| Answer» A. consumption | |
| 9. |
The transformation of physical inputs in to physical outputs: |
| A. | production |
| B. | consumption |
| C. | distribution |
| D. | investment |
| Answer» A. production | |
| 10. |
The difference between total revenue and the total Cost: |
| A. | cost |
| B. | income |
| C. | profit |
| D. | revenue |
| Answer» C. profit | |
| 11. |
MPS + MPC =? |
| A. | 2 |
| B. | 0 |
| C. | 1 |
| D. | 3 |
| Answer» C. 1 | |
| 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 | |
| 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 | |
| 14. |
Revenue function TR = 22x²+14, find Marginal revenue? |
| A. | 44x |
| B. | 40x |
| C. | 22x |
| D. | 54x |
| Answer» A. 44x | |
| 15. |
The addition to total cost: |
| A. | mc |
| B. | ac |
| C. | tc |
| D. | none |
| Answer» A. mc | |
| 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 | |
| 17. |
MRSxy is equal to: |
| A. | mux/muy |
| B. | mpx/mpy |
| C. | mrts |
| D. | none |
| Answer» A. mux/muy | |
| 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 | |
| 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 | |
| 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 | |
| 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 | |
| 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 | |
| 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 | |
| 24. |
The first order derivative of Total Utility: |
| A. | mu |
| B. | tu |
| C. | au |
| D. | none |
| Answer» A. mu | |
| 25. |
The transformation of physical inputs in to outputs: |
| A. | production function |
| B. | consumption function |
| C. | saving function |
| D. | none |
| Answer» A. production function | |
| 26. |
if all factors of production are increased in a given proportion, output also increased in a same proportion: |
| A. | second degree |
| B. | first degree |
| C. | third degree |
| D. | none |
| Answer» B. first degree | |
| 27. |
The amount of a productive factor that is essential to produce a unit of product is called: |
| A. | technical coefficient |
| B. | fixed proportion |
| C. | variable proportion |
| D. | none |
| Answer» A. technical coefficient | |
| 28. |
The ratio of the factors (K/L): |
| A. | apk |
| B. | apl |
| C. | mpl |
| D. | mpk |
| Answer» B. apl | |
| 29. |
Marginal rate of substitution between factors is equal to the ratio of : |
| A. | mpx/mpy |
| B. | mpl/mpk |
| C. | mrsxy/mrs |
| D. | none |
| Answer» B. mpl/mpk | |
| 30. |
The elasticity of substitution under cob- Douglas function: |
| A. | 2 |
| B. | 1 |
| C. | 0 |
| D. | 3 |
| Answer» B. 1 | |
| 31. |
If ∝ + = 1 is related to: |
| A. | constant |
| B. | increase |
| C. | decrease |
| D. | none |
| Answer» A. constant | |
| 32. |
The percentage change in output caused by a given percentage change in a variable factor is: |
| A. | output elasticity |
| B. | income elasticity |
| C. | price elasticity |
| D. | none |
| Answer» A. output elasticity | |
| 33. |
If output is exhausted by the distributive shares of all factors: |
| A. | euler theorem |
| B. | output elasticity |
| C. | labour share |
| D. | none |
| Answer» A. euler theorem | |
| 34. |
Who is invented the linear programming technique: |
| A. | h. thail |
| B. | george b danzig |
| C. | galton |
| D. | karl pearson |
| Answer» B. george b danzig | |
| 35. |
Those which meet or satisfy the constraints of the problem: |
| A. | technical |
| B. | objective |
| C. | feasible |
| D. | optimum |
| Answer» C. feasible | |
| 36. |
one of the assumptions of LPP: |
| A. | linearity |
| B. | elasticity |
| C. | equilibrium |
| D. | none |
| Answer» A. linearity | |
| 37. |
One of the applications of LPP: |
| A. | objectivity |
| B. | diet problem |
| C. | constraint |
| D. | none |
| Answer» B. diet problem | |
| 38. |
The term ‘econometrics’ was coined by: |
| A. | marsahll |
| B. | pawel |
| C. | ragner frisch |
| D. | clompa |
| Answer» C. ragner frisch | |
| 39. |
Error term serves the purpose of…………………….. assumption in economics: |
| A. | dynamic |
| B. | static |
| C. | comparative |
| D. | none of the above |
| Answer» D. none of the above | |
| 40. |
Econometrics model is ………….model. |
| A. | exogenous |
| B. | endogenous |
| C. | identified |
| D. | either exogenous or endogenous |
| Answer» D. either exogenous or endogenous | |
| 41. |
The starting point of econometric analysis is: |
| A. | model specification |
| B. | formulation of alternative hypothesis |
| C. | formulation of null hypothesis |
| D. | collection of data |
| Answer» C. formulation of null hypothesis | |
| 42. |
Regressor refers to: |
| A. | independent variable |
| B. | dependent variable |
| C. | error term |
| D. | dummy variable |
| Answer» A. independent variable | |
| 43. |
In perfect linear model, we assume that regression coefficient remains……….. |
| A. | variable until some point |
| B. | variable through out |
| C. | constant to some point |
| D. | constant through out |
| Answer» D. constant through out | |
| 44. |
In econometric models, t+1 indicates: |
| A. | net addition |
| B. | current value with some fluctuations |
| C. | expected value |
| D. | none of these |
| Answer» C. expected value | |
| 45. |
Quota sample is………………….sample. |
| A. | probability sample |
| B. | non probability sample |
| C. | convenient sample |
| D. | judgment sample |
| Answer» B. non probability sample | |
| 46. |
When a north Indian town data and south Indian data are totaled, it leads to the problem of -------------aggregation. |
| A. | national |
| B. | regional |
| C. | spatial |
| D. | heterogeneous |
| Answer» C. spatial | |
| 47. |
In an econometric model, Y = ∞ + βX, ∞ shows, |
| A. | intercept of the equation |
| B. | slope of the equation |
| C. | average value of y for average value of x |
| D. | rate of change |
| Answer» A. intercept of the equation | |
| 48. |
Error term indicates |
| A. | fluctuations in the given data |
| B. | variations |
| C. | random variations |
| D. | explained variation |
| Answer» C. random variations | |
| 49. |
Among the following, which is an assumption of OLS |
| A. | the explanatory variables are measurable |
| B. | the relationship being estimated is identified |
| C. | error term and independent variables are related |
| D. | error term and independent variables are linearly related |
| Answer» B. the relationship being estimated is identified | |
| 50. |
Linearity means |
| A. | the ols estimates are linear function of random variable |
| B. | the ols estimates are function of variable |
| C. | the ols estimates are function of random variable |
| D. | the ols estimates has minimum variance |
| Answer» A. the ols estimates are linear function of random variable | |
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