Mathematical Economics And Econometrics Set 1

Bachelor of Arts in Economics (BA Economics)

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This set of Mathematical Economics and Econometrics Multiple Choice Questions & Answers (MCQs) focuses on Mathematical Economics And Econometrics Set 1

Q1 | The measurement of economic data:
  • mathematical
  • econometrics
  • business
  • statistics
Answer: econometrics
Q2 | An identity between two alternative:
  • behavioral
  • definitional
  • conditional
  • none
Answer: definitional
Q3 | The relationship between the price of the commodity and quantity of thecommodity demanded :
  • supply
  • demand
  • elasticity
  • none
Answer: demand
Q4 | The relation of Price and quantity demanded:
  • negative
  • positive
  • no relation
  • none
Answer: positive
Q5 | The relationship between the price of the commodity and quantity of thecommodity supplied:
  • demand
  • equilibrium
  • supply
  • none
Answer: supply
Q6 | The wants satisfying power of a commodity:
  • consumption
  • saving
  • utility
  • interest
Answer: utility
Q7 | Consumption function is given C = 35 + .4 Yd , find MPC:
  • .4
  • .6
  • .8
  • .7
Answer: .4
Q8 | The relationship between income and consumption:
  • consumption
  • saving
  • investment
  • none
Answer: consumption
Q9 | The transformation of physical inputs in to physical outputs:
  • production
  • consumption
  • distribution
  • investment
Answer: production
Q10 | The difference between total revenue and the total Cost:
  • cost
  • income
  • profit
  • revenue
Answer: profit
Q11 | MPS + MPC =?
  • 2
  • 0
  • 1
  • 3
Answer: 1
Q12 | The difference between the present level of income and the past level ofincome:
  • saving
  • consumption
  • investment
  • none
Answer: investment
Q13 | The first derivative of the consumption function is:
  • marginal revenue
  • marginal cost
  • marginal propensity to consume
  • none
Answer: marginal propensity to consume
Q14 | Revenue function TR = 22x²+14, find Marginal revenue?
  • 44x
  • 40x
  • 22x
  • 54x
Answer: 44x
Q15 | The addition to total cost:
  • mc
  • ac
  • tc
  • none
Answer: mc
Q16 | The proportionate change in quantity demanded and the proportionatechange in price is:
  • price elasticity
  • income elasticity
  • cross elasticity
  • none
Answer: price elasticity
Q17 | MRSxy is equal to:
  • mux/muy
  • mpx/mpy
  • mrts
  • none
Answer: mux/muy
Q18 | Marginal rate of technical substitution is equal to:
  • mux/muy
  • mpl/mpk
  • mrsxy/mrs
  • mrx/mry
Answer: mpl/mpk
Q19 | The ratio of the proportionate change in the quantity purchased of agood to the proportionate change in income:
  • price elasticity
  • income elasticity
  • cross elasticity
  • none
Answer: income elasticity
Q20 | An increase in income lead to the increase in quantity demanded of thegood:
  • negative good
  • positive good
  • superior good
  • normal good
Answer: superior good
Q21 | The relationship between quantity demanded of a good and level ofconsumer’s income:
  • engel function
  • consumption function
  • saving function
  • none
Answer: engel function
Q22 | The proportionate change in quantity demanded by a good due toproportionate change in the price of the other good:
  • price elasticity
  • income elasticity
  • cross elasticity
  • demand elasticity
Answer: cross elasticity
Q23 | Given the utility function U = 5x²+12x, find Marginal utility:
  • 5+12
  • 10x+12
  • 12x 10
  • 10x +12x
Answer: 10x+12
Q24 | The first order derivative of Total Utility:
  • mu
  • tu
  • au
  • none
Answer: mu
Q25 | The transformation of physical inputs in to outputs:
  • production function
  • consumption function
  • saving function
  • none
Answer: production function
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