Bachelor of Arts in Economics (BA Economics)

The ________ method consists in deriving conclusions from general truths, takes few general principles and applies them draw conclusions.

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Question:

The ________ method consists in deriving conclusions from general truths, takes few general principles and applies them draw conclusions.

A.

Inductive

B.

Deductive

C.

Empirical

D.

Scientific

Answer» b. Deductive

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

The value of Lagrange multiplier λ gives the approximate change in the objective functioncaused by a small change in the:

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Question:

The value of Lagrange multiplier λ gives the approximate change in the objective functioncaused by a small change in the:

A.

constant of the constraint

B.

objective function

C.

variables in the constraint

D.

any of these

Answer» a. constant of the constraint

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

When more workers are engaged in a work than actually required to work, it is called

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Question:

When more workers are engaged in a work than actually required to work, it is called

A.

voluntary unemployment

B.

involuntary unemployment

C.

disguised unemployment

D.

frictional unemployment

Answer» c. disguised unemployment

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Excess demand for money, according to Say’s law in the Economy:

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Question:

Excess demand for money, according to Say’s law in the Economy:

A.

Is greater

B.

Is very less

C.

Is equal to zero

D.

There is no relationship between excess demand for money and Say’s Law

Answer» d. There is no relationship between excess demand for money and Say’s Law

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

The rule of thumb for creating a frequency distribution is to divide the data into 5-15 classes. While larger numbers of classes allow for larger data sets, how do you know exactlyhow many classes to use

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Question:

The rule of thumb for creating a frequency distribution is to divide the data into 5-15 classes. While larger numbers of classes allow for larger data sets, how do you know exactlyhow many classes to use

A.

if in doubt about the number of classes, select 10 since it is the midpoint between 5 and 15 classes

B.

select the number of classes that provides definition to the shape of the data

C.

determine the width of the class interval, then calculate the number of classes

D.

any number of classes between 5 and 15 is sufficient

Answer» b. select the number of classes that provides definition to the shape of the data

Note: The above multiple-choice question is for all general and Competitive Exams in India.