Quantitative Methods For Economic Analysis II Set 3

Bachelor of Arts in Economics (BA Economics),

Master of Arts in Economics (MA Economics)

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This set of Quantitative Methods for Economic Analysis 2 Multiple Choice Questions & Answers (MCQs) focuses on Quantitative Methods For Economic Analysis II Set 3

Q1 | Purchasing power of money
  • price index × 100
  • 100
  • 100/
  • real wage
Answer: 100/
Q2 | Factor reversal list permits the interchange of
  • base periods
  • price & quantity
  • weights
  • none of the above
Answer: price & quantity
Q3 | The method which is not used for estimating seasonal components of a timeseries
  • ratio to trend method
  • link relative method
  • method of simple average
  • method of least squares
Answer: method of least squares
Q4 | Cost of living index is known as
  • consumer price index
  • whole sale price index
  • quantity index
  • none
Answer: consumer price index
Q5 | Paasches index number is based on
  • base year quantity
  • current year quantity
  • day year quantity
  • none
Answer: current year quantity
Q6 | Measures of change in the level of phenomenon is called
  • correlation
  • dispersion
  • mean
  • index numbers
Answer: index numbers
Q7 | Which of the following is described as ‘barometers of economic activity’?
  • index number
  • correlation
  • regression
  • time series
Answer: index number
Q8 | Test to determine whether a given method will work both forward & backward
  • unit test
  • factor reversal test
  • time reversal test
  • none
Answer: time reversal test
Q9 | Data which are collected, observed or recorded at successive intervals of time isknown as ……
  • index numbers
  • time series
  • regression
  • correlation
Answer: time series
Q10 | Earthquake is an example of
  • secular trend
  • seasonal variation
  • cyclical variation
  • irregular variation
Answer: irregular variation
Q11 | All methods of index numbers except simple (unweighted) aggregative indexsatisfies
  • unit test
  • time reversal list
  • factor reversal test
  • circular test
Answer: unit test
Q12 | The word statistics was used in…………..
  • 1749
  • 1849
  • 1790
  • 1801
Answer: 1749
Q13 | Statistics is ………………
  • science only
  • art only
  • science and art
  • neither science nor art
Answer: science and art
Q14 | Statistics can……………
  • prove anything
  • disprove any thing
  • neither prove nor disprove anything is just a tool
  • none of these
Answer: neither prove nor disprove anything is just a tool
Q15 | Bar diagrams are ……………………..dimensional diagrams
  • one
  • two
  • three
  • none of these
Answer: one
Q16 | The number of observations corresponding to a class is known as ………………..ofthat class.
  • population
  • frequency
  • class interval
  • none of these
Answer: frequency
Q17 | Diagrams and graphs are the tools of…………………
  • collection of data
  • analysis of data
  • summarisation of data
  • presentation of data
Answer: presentation of data
Q18 | Circle diagram is also called
  • pie diagram
  • pictogram
  • sectors
  • none of these
Answer: pie diagram
Q19 | Histogram is a ………………
  • graph
  • curve
  • diagram
  • pictogram
Answer: graph
Q20 | In a Histogram bars……………….
  • touch each other
  • do not touch
  • either way
  • neither way
Answer: touch each other
Q21 | With the help of histogram we can prepare
  • frequency polygon
  • frequency cure
  • both
  • done
Answer: both
Q22 | Media is same as ………………..guartile
  • first
  • second
  • third
  • fourth
Answer: second
Q23 | Median is the average suited for ……………classes
  • open-end
  • closed-end
  • both of these
  • none of these
Answer: open-end
Q24 | Which average is affected most by extreme observations
  • mode
  • medium
  • geometric mean
  • arithmetic mean
Answer: geometric mean
Q25 | Which of the following is the most unstable average ?
  • mode
  • median
  • arithmetic mean
  • geometric mean
Answer: mode
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