Deck 2: Econometrics and Factors of Production

Question 1

if all factors of production are increased in a given proportion, output also increased in a same proportion:

A)second degree
B)first degree
C)third degree
D)none

Answer 1

first degree

Question 2

The amount of a productive factor that is essential to produce a unit of product is called:

A)technical coefficient
B)fixed proportion
C)variable proportion
D)none

Answer 2

technical coefficient

Question 3

The ratio of the factors (K/L):

A)apk
B)apl
C)mpl
D)mpk

Answer 3

apl

Question 4

Marginal rate of substitution between factors is equal to the ratio of :

A)mpx/mpy
B)mpl/mpk
C)mrsxy/mrs
D)none

Question 5

The elasticity of substitution under cob- Douglas function:

A)2
B)1
C)0
D)3

Question 6

If $\propto$ + = 1 is related to:

A)constant
B)increase
C)decrease
D)none

Question 7

The percentage change in output caused by a given percentage change in a variable factor is:

A)output elasticity
B)income elasticity
C)price elasticity
D)none

Question 8

If output is exhausted by the distributive shares of all factors:

A)euler theorem
B)output elasticity
C)labour share
D)none

Question 9

Who is invented the linear programming technique:

A)h. thail
B)george b danzig
C)galton
D)karl pearson

Question 10

Those which meet or satisfy the constraints of the problem:

A)technical
B)objective
C)feasible
D)optimum

Question 11

one of the assumptions of LPP:

A)linearity
B)elasticity
C)equilibrium
D)none

Question 12

One of the applications of LPP:

A)objectivity
B)diet problem
C)constraint
D)none

Question 13

The term 'econometrics' was coined by:

A)marsahll
B)pawel
C)ragner frisch
D)clompa

Question 14

Error term serves the purpose of…………………….. assumption in economics:

A)dynamic
B)static
C)comparative
D)none of the above

Question 15

Econometrics model is ………….model.

A)exogenous
B)endogenous
C)identified
D)either exogenous or endogenous

Question 16

The starting point of econometric analysis is:

A)model specification
B)formulation of alternative hypothesis
C)formulation of null hypothesis
D)collection of data

Question 17

Regressor refers to:

A)independent variable
B)dependent variable
C)error term
D)dummy variable

Question 18

In perfect linear model, we assume that regression coefficient remains………..

A)variable until some point
B)variable through out
C)constant to some point
D)constant through out

Question 19

In econometric models, t+1 indicates:

A)net addition
B)current value with some fluctuations
C)expected value
D)none of these

Question 20

Quota sample is………………….sample.

A)probability sample
B)non probability sample
C)convenient sample
D)judgment sample

Question 21

When a north Indian town data and south Indian data are totaled, it leads to the problem of -------------aggregation.

A)national
B)regional
C)spatial
D)heterogeneous

Question 22

In an econometric model, Y = $\infty$ + $\beta$ X, $\infty$ shows,

A)intercept of the equation
B)slope of the equation
C)average value of y for average value of x
D)rate of change

Question 23

Error term indicates

A)fluctuations in the given data
B)variations
C)random variations
D)explained variation

Question 24

Among the following, which is an assumption of OLS

A)the explanatory variables are measurable
B)the relationship being estimated is identified
C)error term and independent variables are related
D)error term and independent variables are linearly related

Question 25

Linearity means

A)the ols estimates are linear function of random variable
B)the ols estimates are function of variable
C)the ols estimates are function of random variable
D)the ols estimates has minimum variance

Question 26

The power of a statistical test is defined as,

A)1- $\beta$
B)1 + $\beta$
C)1
D) $\beta$

Question 27

Student t test is preferred in the case of a,

A)small sample
B)large sample
C)when sample is below 50
D)when sample is above 50

Question 28

Cobb Douglas production function is an example of :

A)linear model
B)double log model
C)lin log model
D)log lin model