# 120+ Mathematics for Economic Analysis Solved MCQs

49
31k
1.

A. estimates
B. elements
C. set objects
D. none of these
2.

## Who is regarded as the founder of theory of sets?

B. karl frederich gauss
C. george cantor
D. euller
3.

A. union
B. derivative
C. set
D. integral
4.

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

A. always true
B. sometimes true
C. not true
D. all of the above is possible
5.

A. null set
B. empty set
C. void set
D. all the above
6.

## A set containing only one element is termed as

A. unit set
B. singleton set
C. both (a) and (b)
D. none of these
Answer» C. both (a) and (b)
7.

## A set of totality of elements from all possible sets is called

A. union set
B. intersection set
C. universal set
D. unit set
8.

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

A. equal sets
B. unequal sets
C. equivalent sets
D. all the above
9.

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

A. equal sets
B. unequal sets
C. equivalent sets
D. all the above
10.

A. pie diagrams
B. venn diagrams
C. histogram
D. ogives
11.

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

A. a is a subset of b
B. b is a subset of a
C. a is not a subset of b
D. b is not a subset of a
Answer» B. b is a subset of a
12.

## In Venn diagram, the universal set is represented by

A. points within a rectangle
B. points within a circle
C. both (a) and (b)
D. none of these
Answer» A. points within a rectangle
13.

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

A. always true
B. sometimes true
C. never true
D. true subject to some conditions
14.

## Union of A with A, that is, A U A =

A. complement of a
B. a itself
C. cannot be determined
D. none of these
15.

A. a
B. a’
C. universal set
D. none of these
16.

## Union of A and a null set is equal to

A. intersection of a and null set
B. null set
C. both (a) and (b)
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

A. associative law of union
B. cumulative law of union
C. reflective law
D. all the above
Answer» B. cumulative law of union
18.

## The associative law of union is

A. a u (b u c) = (a u b) u c = a u b u c
B. a u b = b u a
C. a u b = a u c
D. b u c = b u a
Answer» 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 =

A. b
B. a
C. intersection of a and b
D. none of these
20.

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

A. union of a and b
B. intersection of a and b
C. complement of a
D. complement of b
Answer» B. intersection of a and b
21.

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

A. complement sets
B. joint sets
C. disjoint sets
D. none of these
22.

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

A. complement of set a
B. complement of universal set
C. union of a and universal set
D. universal set itself
Answer» A. complement of set a
23.

A. b – a
B. a – b
C. a’
D. b’
24.

## The set of all subsets of a set A is called

A. power set of a
B. complement of a
C. both (a) and (b)
D. none of these
Answer» A. power set of a
25.

## Any number raise to the power zero is always equal to

A. zero
B. one
C. two
D. that number itself
26.

A. 32 x
B. 32 x 7
C. 2 x
D. none of these
27.

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

A. dependent variable
B. independent variable
C. endogenous variable
D. explained variable
28.

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

A. dependent variable
B. independent variable
C. endogenous variable
D. explained variable
29.

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

A. non-linear functions
B. inverse functions
C. step functions
D. all the above
30.

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

A. non-linear functions
B. inverse functions
C. step functions
D. all the above
31.

A. x-intercept
B. y-intercept
C. slope
D. none of these
32.

A. x-intercept
B. y-intercept
C. slope
D. none of these
33.

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

A. explicit function
B. implicit function
D. all the above
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

A. implicit functions
B. explicit functions
C. simultaneous equations
35.

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

A. x = -3/2 and y = 6
B. x = 4 and y = 2
C. x = ½ and y = ½
D. none of these
Answer» 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

A. supply price
B. demand price
C. equilibrium price
D. reserved price
37.

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

A. p = 9 and q = 7
B. p = 10 and q = 7
C. p = 9 and q = 8
D. p = 7 and q = 9
Answer» A. p = 9 and q = 7
38.

A. x =
B. x =
C. x =
D. none of these
39.

## The simplest case of a quadratic function is

A. y = x2
B. y = x3
C. y = x2 + b
D. y = x2 + bx+ c
40.

A. y = 1/x
B. y = x2
C. y = x-2
D. y = x3
41.

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

A. production possibility curve
B. demand curve
C. isocost line
D. supply 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

A. 4x + 3y = 120
B. 3x + 4y = 120
C. 12x + 12y = 120
D. cannot be determined
Answer» 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

A. hessian determinant
B. jacobian determinant
C. discriminant
D. first order determinant
44.

## If the value of the Jacobian determinant = 0, the equations are

A. functionally dependent
B. functionally independent
C. linearly independent
D. none of these
45.

## If the value of the Jacobian determinant , the equations are

A. functionally dependent
B. functionally independent
C. linearly dependent
D. none of these
46.

## A Jacobian determinant is used to test

A. linear functional dependence between equations
B. non-linear functional dependence between equations
C. both linear and non-linear functional dependence between equations
D. none of these
Answer» 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

A. jacobian determinant
B. hessian determinant
C. discriminant
D. none of these
48.

## A positive definite Hessian fulfills the second-order conditions for

A. maximum
B. minimum
C. both maximum and minimum
D. minimax
49.

## A negative definite Hessian fulfills the second order conditions for

A. maximum
B. minimum
C. both maximum and minimum
D. minimax
50.

## The determinant of a quadratic form is called

A. jacobian determinant
B. hessian determinant
C. discriminant
D. none of these
51.

A. equation
B. hypothesis
C. inequality
D. all the above
52.

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

A. linear equation
B. non-linear equation
D. polynomial of degree two
53.

A. one
B. zero
C. two
D. three
54.

A. one
B. zero
C. two
D. undefined
55.

## An iso-cost line represents

A. different combinations of two inputs that can be purchased with a given sum of money
B. different combinations of two goods that can be purchased with a given income
C. both (a) and (b)
D. none of these
Answer» 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

A. cumulative law
B. associative law
C. distributive law
D. identity law
57.

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

A. cumulative law
B. associative law
C. distributive law
D. identity law
58.

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

A. cumulative law
B. associative law
C. distributive law
D. identity law
59.

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

A. singular matrix
B. non-singular matrix
C. square matrix
D. column vector
60.

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

A. row matrix
B. column matrix
C. row vector
D. both a & c
Answer» D. both a & c
61.

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

A. identity matrix
B. null matrix
C. zero matrix
D. both b & c
Answer» D. both b & c
62.

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

A. diagonal matrix
B. identity matrix
D. scalar matrix
63.

## A square matrix A, such that A = A’, is called a

A. symmetric matrix
B. skew-symmetric matrix
C. singular matrix
D. rank of a matrix
64.

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

A. skew symmetric
B. symmetric
C. singular
D. non-singular
65.

## The matrix A multiplied by its inverse will be a

A. identity matrix
B. skew-symmetric matrix
C. idempotent matrix
66.

## A inverse is defined only if A is a

A. square matrix
B. column vector
C. orthogonal matrix
D. skew-symmetric matrix
67.

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

A. square matrix
B. singular matrix
C. non-singular matrix
D. orthogonal matrix
68.

## which method is used for finding inverse of a matrix

A. gauss elimination method
B. henrich standard method
C. co-factor method
D. both a & c
Answer» D. both a & c
69.

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

A. diagonal matrix
B. orthogonal matrix
C. unit matrix
D. column vector
70.

A. 23
B. 7
C. -23
D. -7
71.

## A diagonal matrix whose diagonal elements are equal is called

A. unit matrix
B. singular matrix
C. scalar matrix
D. non-singular matrix
72.

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

A. i > j
B. i < j
C. i = j
D. all of the above
73.

## If A & B are symmetric matrices, then A + B is

A. symmetric
B. non-symmetric
C. skew symmetric
D. non-skew symmetric
74.

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

A. skew symmetric
B. non-skew symmetric
C. symmetric
D. non-symmetric
75.

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

A. skew symmetric
B. non-skew symmetric
C. symmetric
D. non-symmetric
76.

A. (ba)t
B. btat
C. atbt
D. at+bt
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

A. a
B. ia
C. i
D. both (a) & (b)
Answer» D. both (a) & (b)
78.

B. co-factor
C. minor
D. rank
79.

## The determinant of a matrix and that of its transpose are

A. equal
B. zero
C. one
D. negatively related
80.

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

A. equal
B. zero
C. one
D. negatively related
81.

A. equal
B. one
C. zero
D. not equal
82.

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

A. sum of two determinants
B. difference of two determinants
C. multiplication of two determinants
D. division of two determinants
Answer» A. sum of two determinants
83.

## A square matrix A such that A2 = A is called

A. orthogonal matrix
B. skew symmetric matrix
C. idempotent matrix
D. singular matrix
84.

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

A. symmetric
B. skew symmetric matrix
C. idempotent matrix
D. orthogonal matrix
85.

## The transpose of the cofactor matrix is called

B. power of a matrix
C. minor of the matrix
D. rank of a matrix
86.

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

B. determinant a
C. rank of a
D. both a & b
Answer» D. both a & b
87.

## If AΠ B = Ø , then A and B are called

A. disjoint set
B. complement set
C. unit set
D. empty et
88.

## Matrix multiplication does not satisfy --------- law

A. associative
B. distributive
C. commutative
D. none of the above
89.

A. nonlinear
B. proportional
C. polynomial
D. linear
90.

## Relation between two numbers or variables are called

A. function
B. binary relation
C. inverse relation
D. none of the above
91.

A. super set
B. sub set
C. empty set
D. universal set
92.

A. columns
B. rows
C. elements
D. diagonal
93.

A. nxm
B. mxn
C. nxp
D. mxm
94.

## If A=At , then A is

A. symmetric matrix
B. skew symmetric matrix
C. identity matrix
D. orthogonal matrix
95.

A. 1
B. a
C. b
D. null set
96.

A. countable set
B. infinite set
C. finite set
D. unit set
97.

## Ordered pairs of two sets are called

A. elements
B. function
C. cartesian product
D. none of the above
98.

B. inverse
C. determinant
D. cofactor
99.

## Determinant of triangular matrix is the product of

A. diagonal elements
B. off-diagonal elements
C. rows
D. columns
100.

A. 48
B. 0
C. 24
D. 42