Top 150+ Solved Mathematical Economics MCQ Questions Answer
Q. Function which map the relation between the physical measure of money and the perceivedvalue of money is _____
a. Income
b. Investment
c. Demand
d. Utility
Q. _______ function was designed by J M Keynes to show the relationship between realdisposable income and consumer spending.
a. Consumption
b. Investment
c. Demand
d. Utility
Q. Given the consumption function C = a + bY, where ‘a’, the intercept, represents_____
a. Income
b. autonomous consumption
c. Demand
d. Saving
Q. Given the consumption function C = a + bY, the slope ‘b’ represents:
a. MPS
b. autonomous consumption
c. MPC
d. Saving
Q. For equilibrium market, the condition is____
a. Demand > supply
b. demand <supply
c. demand = supply
d. None of these
Q. If your income doubles and the prices of the goods you buy double, then your demand forthese goods will likely ________
a. increase
b. not change
c. decrease
d. shift
Q. The process of finding relative maximum or minimum of a function is known as :
a. optimization
b. minimisation
c. maximisation
d. any of these
Q. A ____ is a point at which a function is at a relative maximum or minimum:
a. plateau
b. relative extremum
c. inflection
d. critical value
Q. The first derivative measures the rate of change or ____ of a function:
a. intercept
b. convexity
c. slope
d. concavity
Q. MR is :
a. the second order derivative of TR
b. the first order derivative of TC
c. the first order derivative of TR
d. the first order derivative of TR
Q. In optimisation, with the first order derivative equal to ___ and the second order derivative___ the function is at a maximum.
a. 0, 0
b. 0, < 0
c. 0, > 0
d. > 0, 0
Q. When we optimise a function, with the first order derivative equal to ___ and the secondorder derivative ___ the function is at a relative minimum.
a. 0, 0
b. 0, < 0
c. 0, > 0
d. > 0, 0