Top 150+ Solved Mathematics for Economic Analysis 1 MCQ Questions Answer
Q. The functions y = 2x + 1 and x = ½ y – ½ are said to be
a. non-linear functions
b. inverse functions
c. step functions
d. all the above
Q. A function where a variable x can only vary in jumps, is often called
a. non-linear functions
b. inverse functions
c. step functions
d. all the above
Q. The increase in dependent variable that results when the independent variable increases by oneunit in a simple linear function is called
a. y-intercept of the curve
b. slope of the curve
c. x-intercept of the curve
d. marginal value
Q. The value of the dependent variable where the graph cuts the y-axis is called
a. x-intercept
b. y-intercept
c. slope
d. none of these
Q. The point at which the graph cuts the x-axis is called
a. x-intercept
b. y-intercept
c. slope
d. none of these
Q. A linear function of the form 6x – 2y + 8= 0 is known as
a. explicit function
b. implicit function
c. quadratic function
d. all the above
Q. If we are told that the two statements ‘y = 3x’ and ‘y = x + 10’ are both true at the same time, theyare called
a. implicit functions
b. explicit functions
c. simultaneous equations
d. quadratic equations
Q. Solving the simultaneous equations 8x + 4y = 12 and -2x + y = 9 gives
a. x = -3/2 and y = 6
b. x = 4 and y = 2
c. x = ½ and y = ½
d. none of these
Q. Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in theinverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called
a. supply price
b. demand price
c. equilibrium price
d. reserved price
Q. The equilibrium price and quantity, given the inverse demand and supply functionsbp D =-3q + 30 and pS = 2q – 5
a. p = 9 and q = 7
b. p = 10 and q = 7
c. p = 9 and q = 8
d. p = 7 and q = 9
Q. Given any quadratic equation a x2 + b x + c = 0, where a, b, and c are given constants, the solutions(roots) are given by the formula
a. x =
b. x =
c. x =
d. none of these
Q. A consumer’s income or budget is 120. She buys two goods, x and y, with prices 3 and 4respectively. Then the budget constraint can be expressed as
a. 4x + 3y = 120
b. 3x + 4y = 120
c. 12x + 12y = 120
d. cannot be determined
Q. If the value of the Jacobian determinant = 0, the equations are
a. functionally dependent
b. functionally independent
c. linearly independent
d. none of these