Mathematics For Economic Analysis 1 Set 5

Bachelor of Arts in Economics (BA Economics)

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This set of Mathematics for Economic Analysis 1 Multiple Choice Questions & Answers (MCQs) focuses on Mathematics For Economic Analysis 1 Set 5

Q1 | If the number of elements of the two sets are equal, then they are called
  • equal set
  • equivalent set
  • order set
  • subset
Answer: equivalent set
Q2 | If a set has three elements, then its power set consist of ----- elements
  • 3
  • 5
  • 6
  • 8
Answer: 8
Q3 | Given A in 2x2 and B is 2x4, then the matrix AB will be of the order
  • 2x2
  • 2x4
  • 4x2
  • 1x2
Answer: 2x4
Q4 | Maximum number of linearly independent rows and columns of a matrix is called
  • rank
  • adjoint
  • determinant
  • inverse
Answer: rank
Q5 | Determinant of a 3X3 square matrix is called ----- determinant
  • first order
  • second order
  • third order
  • fourth order
Answer: third order
Q6 | The set consisting of all the elements which belong to A as well as B is called
  • union
  • intersection
  • complement
  • partition
Answer: intersection
Q7 | The total number of elements of the set of all possible outcome when two coins are tossed
  • 2
  • 3
  • 4
  • 6
Answer: 4
Q8 | Special type of relation is
  • function
  • binary relation
  • inverse
  • none of the above
Answer: function
Q9 | Rectangular array of numbers, variables or parameters is called
  • set
  • exponents
  • matrix
  • function
Answer: matrix
Q10 | When the demand for a good is given by Q=50-P, the maximum amount that would bedemanded at nil price
  • 1
  • 0
  • 40
  • 50
Answer: 50
Q11 | Given A={a,b,c} and B={a,d,c}, then AUB will be
  • a,b,c
  • a,d,c
  • c,d,a
  • a,b,c,d
Answer: a,b,c,d
Q12 | in a square matrix, the elements lie from left top to right bottom is
  • diagonal elements
  • row elements
  • column elements
  • triangular elements
Answer: diagonal elements
Q13 | if all the elements below the leading diagonal are zero in a square matrix, it is
  • lower triangular matrix
  • identity matrix
  • inverse matrix
  • upper triangular matrix
Answer: identity matrix
Q14 | conformity condition for matrix addition is that matrices should be
  • square
  • same order
  • equal
  • proportional
Answer: same order
Q15 | commutative law of matrix subtraction is
  • a+b=b+a
  • a-b=b-a
  • a-b= -b+a
  • a+b=a-b
Answer: a-b= -b+a
Q16 | In matrix algebra (AB)C=A(BC) is
  • associative
  • commutative
  • distributive
  • none of the above
Answer: associative
Q17 | In matrix expression of linear equation, AX=B, X denotes
  • coefficient matrix
  • constants
  • identity matrix
  • solution vector
Answer: solution vector
Q18 | If in a matrix any two rows or columns are identical or proportional or linearly dependent, thedeterminant will be
  • equal
  • zero
  • unity
  • infinity
Answer: zero
Q19 | Given the demand curve, P=20-0.2Q, the revenue curve will be
  • 20-0.2q
  • 10-.1q
  • 20q-0.2q
  • 20q-0.2q2
Answer: 20q-0.2q2
Q20 | The slope of isocost line is the ratio of
  • quantities
  • input prices
  • costs
  • product prices
Answer: input prices
Q21 | The line of linear equation should begin from
  • the origin
  • x axis
  • y axis
  • any of the above
Answer: any of the above
Q22 | For a matrix minor of element M33 =25, the cofactor is
  • -25
  • 25
  • 33
Answer: 25
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