Tag: mathematical methods for economics

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Questions Related to mathematical methods for economics

Multiple choice computer and ms office mathematical methods for economics economics

Under Free Trade regime there is ____________.

  1. increase in domestic prices

  2. fall in economic welfare

  3. equalization of factor prices

  4. loss of domestic industries
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Under the Heckscher-Ohlin model and free trade, the Factor Price Equalization theorem states that trade will lead to the equalization of factor prices across countries.

Multiple choice computer and ms office mathematical methods for economics economics

The age of son and father is in the ratio of 3:7, if the age of the father is 42, the age of the son will be___

  1. 21 years

  2. 24 years

  3. 18 years

  4. 20 years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The ratio of son to father is 3:7. If 7 parts equal 42, then 1 part equals 6. Therefore, the son's age (3 parts) is 3 * 6 = 18.

Multiple choice computer and ms office mathematical methods for economics economics

The number of ways the letter SCHOLAR can be arranged so that LR never come together are .

  1. 5,040

  2. 3,600

  3. 4,404

  4. 3,910
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Total arrangements of SCHOLAR (7 letters, all distinct) is 7! = 5040. Arrangements where L and R are together: treat LR as one unit, so 6! * 2! = 720 * 2 = 1440. Subtracting these from total: 5040 - 1440 = 3600.

Multiple choice computer and ms office mathematical methods for economics economics

If the regression coefficient of $x$ on $y$ is $0.64$ and that of $y$ on $x$ is $1$. Find the value of correlation coefficient between $x$ and $y$. 

  1. -0.5

  2. 0.57

  3. 0.8

  4. none
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The correlation coefficient r is the square root of the product of the two regression coefficients: r = sqrt(bxy * byx). Here, r = sqrt(0.64 * 1) = 0.8.

Multiple choice computer and ms office mathematical methods for economics economics

A has three children in his family, the probability of all the children being a girl child is _____

  1. $\dfrac{1}{2}$
  2. $\dfrac{1}{3}$
  3. $\dfrac{1}{8}$
  4. $\dfrac{3}{8}$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For each child, the probability of being a girl is 1/2. For three children, the probability of all being girls is (1/2) * (1/2) * (1/2) = 1/8.