01 Oct For a monopoly in equilibrium:
Question 1 For a monopoly in equilibrium:
Question 1 options:
MR = MC
MC ≤ AC
MR ≤ AR
P ≥ AC
Question 2 A monopsony is a market with:
Question 2 options:
many sellers
one buyer
many buyers
one seller
Question 3 Generally speaking, population parameters are not known and must be estimated by the sample
Question 3 options:
mean
mode
median
statistics
Question 4 A multiple regression model involves two or more
Question 4 options:
Y variables
X variables
intercept terms
data points
Question 5 The standard deviation of the dependent Y variable after controlling for all X variables is the
Question 5 options:
correlation coefficient
coefficient of determination
F statistic
standard error of the estimate
Question 6 In a uniform distribution, the mode
Question 6 options:
equals the median
is less than the mean
is less than the median
is greater than the mean
Question 7 Incorrect rejection of a true hypothesis is called
Question 7 options:
type I error
type II error
z statistic error
t statistic error
Question 8 In a simple regression model, the correlation coefficient is
Question 8 options:
greater than one
less than one
equal to one
the square root of the coefficient of determination
Question 9 A roughly coincident indicator of business cycle peaks is given by
Question 9 options:
new orders for consumer goods and materials
the rate of change in sensitive materials prices
the rate of change in stock prices
personal income minus transfer payments
Question 10 A forecast method based on the informed opinion of several individuals is called
Question 10 options:
personal insight
panel consensus
the Delphi method
qualitative analysis
Question 11 A rhythmic annual pattern in sales or profits is called
Question 11 options:
cyclical fluctuation
secular trend
trend analysis
seasonal variation
Question 12 Lagging economic indicators include
Question 12 options:
personal income
the change in stock prices
orders for new plant and equipment
the average duration of unemployment
Question 13 The Delphi method
Question 13 options:
employs interaction among experts in the hope that resulting forecasts embody all
available objective and subjective information
can be influenced by the forceful personality of one or a few key experts
employs an independent party to elicit a consensus opinion
assumes that several experts arrive at forecasts that are inferior to those that
individuals generate
Question 14 A secular trend is the
Question 14 options:
annual pattern in sales or profits caused by weather, habit, or social custom
predictable shock to the pace of economic activity caused by wars, strikes, natural catastrophes, and so on
long-run pattern of increase or decrease in a series of economic data
rhythmic variation in economic series that is due to expansion or contraction in the overall economy
Question 15 The forecasting method that can be used when market data is unavailable
Question 15 options:
time-series analysis
regression analysis
input-output analysis
qualitative analysis
