ECO404 Midterm Solved MCQs

Data of a variable at one point in time for different regions is known as:

Cross sectional data shez correct

Which of the following deals with the study of economic behavior of individual firms and units?

Mathematical economics

Direct demand is also known as:

Consumer’s demand

Derived demand is also known as

Business demand

The branch of economics which deals with the study of overall behavior of the economy is known as

Macroeconomics

Which of the following is marketing research approach to estimate the demand?

Consumer Interviews

Consumer Clinics

Market Experiments

All of the given options shez correct

Y = a + bX + e ?

Intercept

Slope Error term

MCQ’s are difficult

1:-In Q =In A + a In K + b In L. This is the logarithmic form of:

Investment function

Cobb Douglas production function page(94)

Simple production function Regression function 2:- Inputs that are Fixed during the production process are known as -------- inputs.

Fixed

Variable Good Bad 3:- No Cash is define in

implicit cost

4:- In which of the following games, players decide about their strategy choices at the same time?

Repeated games Non-repeated games

Simultaneous games

Sequential games 5:-Public utilities are an example of:

Natural monopoly

Oligopoly

6:- Question # 11 of 20 ( Start time: 06:11:25 PM ) Total Marks: 1 Y = 3.35 + 2.63X shows slop in this regression equation.

2.63

3. 35
4. 5
5. 5

7:- GNP=C+I+G equation is Definitional Equation Behavior equation

8:- Cigarettes are an example of which type of market structure?

Monopoly

Oligopoly

9:- Which of the following is TRUE for the law of supply'? :

There is inverse relationship between the price of a good and quantity demanded of that good There is positive relationship between the price of a good and quantity demanded of that good There is positive relationship between the price of a good and quantity supplied of that good 10:-There is inverse relationship between income and quantity supplied of a good Decreasing part of marginal product of labor curve shows which of the following law?

Law of diminishing returns

Law of diminishing marginal utility Law of demand Law of supply

Y=a +b1X1 +b2X2. This equation is an example of:

Multiple regression model shez correct

Which of the following is an example of a deterministic relation?

Profit relation shez correct

wo products are said to be compliments if cross price elasticity of demand between these two products is:

Zero shez correct