Description : Cumulative frequency distribution is helpful to calculate----- (a) mean (b) median © mode (d) both (b) and (c).
Last Answer : (b) median
Description : Diminishing returns occurs when a firm (a) uses too much of all inputs (b) uses more and more of one input while holding another inputs constant © does not utilize its inputs efficiently (d) cut down on the quantity of all inputs it uses
Last Answer : b) uses more and more of one input while holding another inputs constant
Description : Comparative advantage occurs when (a) A country can produce more goods than anyone else (b) A country has a lower opportunity cost in the production of a good than any other country © A country has more product lines than other countries (d) The exchange rate appreciates.
Last Answer : (b) A country has a lower opportunity cost in the production of a good than any other country
Description : Which of the following phases describes the phase of business cycle that occurs after a trough and before a peak (a) Lag (b) Consolidation © Expansion (d) Contraction
Last Answer : © Expansion
Description : What is the mean median mode and range of 78 25 57 98 20 48 45 37 88 24 19?
Last Answer : 19, 20, 24, 25, 37, 45, 48, 57, 78, 88, 98Mean: 49Median: 45Range: 79There is no mode.
Description : In a normally distributed data set which is greater mean median or mode?
Last Answer : In a normal distribution the mean, median and mode are all thesame value.
Description : What is the mean median and mode of 52 53 54 55 55 56 57 57 57 59 60?
Last Answer : Find the mode of the following data: 55,55, 56, 52, 57, 55, 58, 59, 60, 60
Description : Find the mean,median,mode and range of the following values:17,7,11,13,2,12,7.?
Last Answer : find the mean,median,mode and range of the following values:17,7,11,13,2,12,7.
Description : Think of 5 positive integers that have a mode of 4 and 6, a median of 6 and a mean of 7.?
Last Answer : Think of 5 positive integers that have a mode of 4 and 6, a median of 6 and a mean of 7.
Description : Mean, Median and Mode are
Last Answer : Ans. Measures of Central tendency
Description : The simplest measure of variability in a data set is (A) Mean (B) Range (C) Median (D) Mode
Last Answer : (B) Range
Description : Mean, median and mode are measures of _______ a. Central tendency b. Dispersion c. Probability d. maths
Last Answer : . central tendency
Description : Which distribution has same mean, median and mode? a. Poisson distribution b. Gaussian distribution c. Binomial distribution d. Abnormal distribution
Last Answer : b. Gaussian distribution
Description : Total revenue is maximum when elasticity of demand is (a) 3 (b) 1 © 0 (d) 0.5
Last Answer : (b) 1
Description : Total utility is maximum, when (a) marginal utility is maximum (b) marginal utility is zero © marginal utility increases (d) average utility is maximum
Last Answer : (b) marginal utility is zero
Description : Make a stem-and-leaf plot for this set of data. Find the range,median,and mode of the data. : 47 54 70 62 59 62 82 66 62 73 55 82 59?
Last Answer : nevermind- i figured it out
Description : Relationship between AM, median and Mode in asymmetrical distribution
Last Answer : Ans. Mode = 3 Median – 2 Mean
Description : To calculate index number ----- mean is used (a) arithmetic (b) geometric © harmonic (d) none of the above.
Last Answer : (b) geometric
Description : Marginal rate of substitution is the ___of the indifference curve (a) mean (b) slope © peak (d) inverse
Last Answer : (b) slope
Description : . In Heckscher Ohlin theory factors of production are---in number. (a) one (b) two © three (d) four
Last Answer : (b) two
Description : Which of the following statements defines density of population? (a) Number of persons living in per unit area. (b) Number of persons living in a country © Change in the number of inhabitants of a country during a specific period of time. (d) Absolute numbers added every year.
Last Answer : (a) Number of persons living in per unit area.
Description : Leontief’s model is open due to the fact that final demand is given from----- the system (a) within (b) outside © both (a) and (b) (d) none of the above.
Last Answer : (b) outside
Description : Factors of production in Input Output model is---- (a) one (b) two © three (d) four
Last Answer : (a) one
Description : Leontief”s model explains a----- equilibrium. (a) static (b) dynamic © both static and dynamic (d) none of the above
Last Answer : (a) static
Description : The isoquants in Input Output model is (a) convex to the origin (b) concave to the origin © l shaped. (d) straight line.
Last Answer : © l shaped.
Description : In Input Output model only----product is produced (a) One (b) Two © Three (d) Four
Last Answer : (a) One (d) Four
Description : Leontief’s input output model is based on the concept of----- (a) Consumption function (b) Partial Equilibrium © General Equilibrium. (d) All of the above.
Last Answer : © General Equilibrium.
Description : Hawkins Simon condition explains the----- condition in Input output model (a) Instability (b) Stability © Uniqueness (d) None of the above
Last Answer : (b) Stability
Description : In Leontief’s model own input coefficient’s are less than---- (a) Four (b) Three © Two (d) One
Last Answer : (d) One
Description : Isoquants in Leontief’s input- output model are (a) Variable coefficient (b) Fixed coefficient © Sometimes fixed sometimes variable (d) None of the abov
Last Answer : (b) Fixed coefficient
Description : If the production possibility curve is linear, then production is said to be subject of (a) constant opportunity cost (b) decreasing opportunity cost © Increasing opportunity cost (d) first increasing then decreasing opportunity cost.
Last Answer : (a) constant opportunity cost
Description : Normally the isoquant slopes (a) downwards from left to right (b) upward from right to left © upwards from left to right (d) backwards from left to right
Last Answer : (a) downwards from left to right
Description : Afirm will close down in the short run, if AR is less than (a) AC (b) AVC © MC (d) none of the above
Last Answer : (b) AVC
Description : For getting total revenue, the formula is (a) TR/Q (b) MR+Q © AR/Q (d) AR X Q
Last Answer : (d) AR X Q
Description : .All of the following curves are U-shaped, except the (a) AFC curve (b) MC curve © AC curve (d) AVC curve
Last Answer : (a) AFC curve
Description : Difference between average cost and average revenue is (a) total profit (b) net profit © average profit (d) marginal profit
Last Answer : © average profit
Description : Opportunity cost is a/an (a) spill-over cost (b) money cost © alternative cost (d) social cost
Last Answer : © alternative cost
Description : In the long run, which of the following factors of production is fixed? (a) capital (b) building © labour (d) none of the above
Last Answer : (d) none of the above
Description : “Higher the indifference curve, higher will be the level of satisfaction” (a) always true (b) always false © sometimes true and sometimes false (d) true only if price effect is positive.
Last Answer : (b) always false
Description : A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward
Last Answer : (a) the price of one good changes
Description : Marginal utility means (a) change in total utility due to one unit change in consumption (b) change in total utility due to no change in consumption © change in utility due to change in price (d) change in utility due to change in income
Last Answer : (a) change in total utility due to one unit change in consumption
Description : “ All Giffen goods are inferior, but all inferior goods are not Giffen”. The statement is (a) sometimes true (b) true © false (d) none of the above
Last Answer : (b) true
Description : An increase in product price will cause (a) quantity demanded to decrease (b) quantity supplied to decrease © quantity demanded to increase (d) the demand curve to shift to the left
Last Answer : (a) quantity demanded to decrease
Description : If consumer’s income increases, the demand for normal product X (a) will remain unchanged (b)will necessarily increase © will necessarily decrease (d) may increase or decrease
Last Answer : (b)will necessarily increase
Description : The law of diminishing marginal utility is most useful for explaining the (a) Law of supply (b) Law of demand © Shape of production possibility curve (d) curvature of total cost curve
Last Answer : (b) Law of demand
Description : A rightward shift in the supply schedule indicates (a) a decrease in supply (b) an increase in supply © an increase in quantity supply (d) a decrease in quantity supply
Last Answer : (b) an increase in supply
Description : The quantity demanded depends on (a) its price (b) income © price of other goods (d) all of the above
Last Answer : (d) all of the above
Description : Demand curve remaining the same, if the supply curve shifts to the right then (a) Price and quantity move in the same direction (b) Price and quantity move in the opposite direction © Price and quantity remain unchanged (d) None of the above.
Last Answer : (b) Price and quantity move in the opposite direction
Description : The basic problem of an economy is (a) What to produce? (b) How to produce? © For whom to produce? (d) All of the above.
Last Answer : (d) All of the above.
Description : In case of horizontal demand curve , price elasticity of demand is (a) equal to zero (b) equal to one © equal to two (d) infinite
Last Answer : (a) equal to zero