Question:

____ models are mathematical models designed to be used with data.

A.

Empirical

B.

Visual

C.

Mathematical

D.

Simulation

Answer» a. Empirical

Question:

Given a consumption function C = 250 + 0.75Yd, autonomous consumption is ____

A.

0.75

B.

0

C.

250

D.

-0.75

Answer» c. 250

Question:

In an input-output matrix, the principal diagonal of this matrix represents the amount of inputeach industry takes from ___output.

A.

other industry’s

B.

government sector’s

C.

household sector’s

D.

its own output

Answer» d. its own output

Question:

Linear Programming deals with:

A.

Constraints

B.

Inequalities

C.

Objective functions

D.

All the above

Answer» d. All the above

Question:

In input-output analysis, ___ represents in monetary terms or quantitative terms all thetransactions of the economic system.

A.

the transaction matrix

B.

objective functions

C.

non negativity constrains

D.

the

Answer» a. the transaction matrix

Question:

Given TR = 10x, TC = 5x+2, profit function is :

A.

5x – 2

B.

5x

C.

10x – 5x

D.

5x + 2

Answer» a. 5x – 2

Question:

The cost per output is given by C = 2x + 27. Then the marginal cost when x = 5 is:

A.

2

B.

27

D.

47

Answer» d. 47

Question:

Function which map the relation between the physical measure of money and the perceivedvalue of money is _____

A.

Income

B.

Investment

C.

Demand

D.

Utility

Answer» d. Utility

Question:

In linear programming, the number of technical constraints will be ___the number of thefactors of production:

A.

equal to

B.

smaller than

C.

greater than

D.

the same as

Answer» d. the same as

Question:

If your income doubles and the prices of the goods you buy double, then your demand forthese goods will likely ________

A.

increase

B.

not change

C.

decrease

D.

shift

Answer» b. not change