Notes Mathematical Economics-Online Practice Exam 5 December 16, 2023 December 16, 2023 NET / SET Online Practice Exams Mathematical Economics Test Multi-choice 5 Question 1. Which of the following index numbers suffer from upward bias? Answers Option 1 Bowley’s index number Option 2 Fisher’s index number Option 3 Laspayere’s index number Option 4 Paasche’s index number Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Which of the following is NOT correctly matched ? Answers Option 1 Laspeyer Option 2 Fisher Option 3 Marshall Option 4 Bowley Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Which of the following index number suffer from downward bias ? Answers Option 1 Bowley’s index number Option 2 Fisher’s index number Option 3 Laspayere’s index number Option 4 Paasche’s index number Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 4. Time reversal test requires that Answers Option 1 Option 2 P01 × P10 = 1 Option 3 P01 × P12 × P20 = 1 Option 4 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. Factor reversal test implies that Answers Option 1 P01 × P10 = 1 Option 2 P01 × P12 × P20 = 1 Option 3 Option 4 Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 6. Which of the following index numbers does not satisfy the unit test ? Answers Option 1 Simple aggregative index number Option 2 Laspeyre’s index number Option 3 Bowley’s index number Option 4 Fisher’s index number Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. The figure of a particular year expressed as a percentage of the preceeding year’s figure is called Answers Option 1 link relative Option 2 price relative Option 3 quantity relative Option 4 chain relative Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. Over period of time, an existing series of index numbers tends to becomes obsolete and it fails to include new commodities gaining importance at a later date or to exclude the commodities losing significance in course of time. These problems can be overcome by- Answers Option 1 Fixed based index Option 2 Chain index numbers Option 3 Fisher’s ideal index Option 4 Both Fisher’s ideal index and fixed base index Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. The arithmetic mean of marks scored by girls in the class is 70 while that of the boys is 60. If the arithmetic mean of marks scored by students is 63, then are percentage of girls in the class- Answers Option 1 is less than that of the boys Option 2 is equal to that of the boys Option 3 is more than that of the boys Option 4 cannot be computed because of insufficient data Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. For which measure of central tendency the sum of deviations (taking sings into account) of the items from the measure of central tendency is zero ? Answers Option 1 The coefficient of determination is negative if the coefficient of correlation is negative Option 2 The coefficient of determination is negative if the coefficient of correlation is positive Option 3 The coefficient of determination is negative if the coefficient of correlation is negative Option 4 The coefficient of determination is positive always Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Prepared by www.myeconomics.in << Prev Next >> "There is no joy in possession without sharing". Share this page. Whatsapp Telegram Facebook Twitter
Multi-choice 5 Question 1. Which of the following index numbers suffer from upward bias? Answers Option 1 Bowley’s index number Option 2 Fisher’s index number Option 3 Laspayere’s index number Option 4 Paasche’s index number Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Which of the following is NOT correctly matched ? Answers Option 1 Laspeyer Option 2 Fisher Option 3 Marshall Option 4 Bowley Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Which of the following index number suffer from downward bias ? Answers Option 1 Bowley’s index number Option 2 Fisher’s index number Option 3 Laspayere’s index number Option 4 Paasche’s index number Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 4. Time reversal test requires that Answers Option 1 Option 2 P01 × P10 = 1 Option 3 P01 × P12 × P20 = 1 Option 4 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. Factor reversal test implies that Answers Option 1 P01 × P10 = 1 Option 2 P01 × P12 × P20 = 1 Option 3 Option 4 Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 6. Which of the following index numbers does not satisfy the unit test ? Answers Option 1 Simple aggregative index number Option 2 Laspeyre’s index number Option 3 Bowley’s index number Option 4 Fisher’s index number Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. The figure of a particular year expressed as a percentage of the preceeding year’s figure is called Answers Option 1 link relative Option 2 price relative Option 3 quantity relative Option 4 chain relative Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. Over period of time, an existing series of index numbers tends to becomes obsolete and it fails to include new commodities gaining importance at a later date or to exclude the commodities losing significance in course of time. These problems can be overcome by- Answers Option 1 Fixed based index Option 2 Chain index numbers Option 3 Fisher’s ideal index Option 4 Both Fisher’s ideal index and fixed base index Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. The arithmetic mean of marks scored by girls in the class is 70 while that of the boys is 60. If the arithmetic mean of marks scored by students is 63, then are percentage of girls in the class- Answers Option 1 is less than that of the boys Option 2 is equal to that of the boys Option 3 is more than that of the boys Option 4 cannot be computed because of insufficient data Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. For which measure of central tendency the sum of deviations (taking sings into account) of the items from the measure of central tendency is zero ? Answers Option 1 The coefficient of determination is negative if the coefficient of correlation is negative Option 2 The coefficient of determination is negative if the coefficient of correlation is positive Option 3 The coefficient of determination is negative if the coefficient of correlation is negative Option 4 The coefficient of determination is positive always Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback)
Multi-choice 5 Question 1. Which of the following index numbers suffer from upward bias? Answers Option 1 Bowley’s index number Option 2 Fisher’s index number Option 3 Laspayere’s index number Option 4 Paasche’s index number Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Which of the following is NOT correctly matched ? Answers Option 1 Laspeyer Option 2 Fisher Option 3 Marshall Option 4 Bowley Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Which of the following index number suffer from downward bias ? Answers Option 1 Bowley’s index number Option 2 Fisher’s index number Option 3 Laspayere’s index number Option 4 Paasche’s index number Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 4. Time reversal test requires that Answers Option 1 Option 2 P01 × P10 = 1 Option 3 P01 × P12 × P20 = 1 Option 4 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. Factor reversal test implies that Answers Option 1 P01 × P10 = 1 Option 2 P01 × P12 × P20 = 1 Option 3 Option 4 Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 6. Which of the following index numbers does not satisfy the unit test ? Answers Option 1 Simple aggregative index number Option 2 Laspeyre’s index number Option 3 Bowley’s index number Option 4 Fisher’s index number Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. The figure of a particular year expressed as a percentage of the preceeding year’s figure is called Answers Option 1 link relative Option 2 price relative Option 3 quantity relative Option 4 chain relative Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. Over period of time, an existing series of index numbers tends to becomes obsolete and it fails to include new commodities gaining importance at a later date or to exclude the commodities losing significance in course of time. These problems can be overcome by- Answers Option 1 Fixed based index Option 2 Chain index numbers Option 3 Fisher’s ideal index Option 4 Both Fisher’s ideal index and fixed base index Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. The arithmetic mean of marks scored by girls in the class is 70 while that of the boys is 60. If the arithmetic mean of marks scored by students is 63, then are percentage of girls in the class- Answers Option 1 is less than that of the boys Option 2 is equal to that of the boys Option 3 is more than that of the boys Option 4 cannot be computed because of insufficient data Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. For which measure of central tendency the sum of deviations (taking sings into account) of the items from the measure of central tendency is zero ? Answers Option 1 The coefficient of determination is negative if the coefficient of correlation is negative Option 2 The coefficient of determination is negative if the coefficient of correlation is positive Option 3 The coefficient of determination is negative if the coefficient of correlation is negative Option 4 The coefficient of determination is positive always Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback)