Bachelor of Arts in Economics (BA Economics)

Theories are:

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Question:

Theories are:

A.

Much more complicated than common sense

B.

Scientific only if based on normative value judgments

C.

Proven if only a few unimportant exceptions exist

D.

Developed when we collect data, try to explain how things work, and then

Answer» d. Developed when we collect data, try to explain how things work, and then

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

The _________coefficient (r) is a ratio between the covariance (variance shared by twovariables) and a measure of the separate variances.

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Question:

The _________coefficient (r) is a ratio between the covariance (variance shared by twovariables) and a measure of the separate variances.

A.

regression

B.

elasticity

C.

correlation

D.

mean

Answer» c. correlation

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

In the short run, a monopolist’s profits:

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Question:

In the short run, a monopolist’s profits:

A.

may be positive, negative, or zero.

B.

are positive because of the monopolist\s market power.

C.

are positive if the monopolist\s elasticity of demand is less than 1.

D.

are positive if the monopolist\s selling price is above average variable cost.

Answer» a. may be positive, negative, or zero.

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

Which of the following is incorrect

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Question:

Which of the following is incorrect

A.

in linear regression a real line is drawn through the data points where total error is minimized.

B.

in linear regression the line tells us by how much y is predicted to change as a result of a change in x.

C.

in linear regression the line fits the data in the best place possible.

D.

in linear regression the line of best fit maximises the distance between the scores and the regression line.

Answer» d. in linear regression the line of best fit maximises the distance between the scores and the regression line.

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