Tag: economics

Questions Related to economics

Which of the following statement is not correct?

  1. The money spent on the sample in collecting information is more than that is spent on population

  2. In an under developed economy, census method cannot be adopted because of the heavy cost

  3. The accuracy of the census method is tested by the information obtained by the sample method

  4. The error that occur in the study of the sample may be determined and steps may be taken to reduce it


Correct Option: A
Explanation:

As population is large in size as compared to samples. So, the money spent on gathering information through census is a costly affair than sampling.

A general rule is that a sample is to be replaced if the size of the sample ________.

  1. exceeds 2% of the population size

  2. exceeds 3% of the population size

  3. exceeds 4% of the population size

  4. exceeds 5%of the population size


Correct Option: D
Explanation:

General rule for the efficient sampling is that it should not exceed 5% of the population and if it exceeds,  then the sample needs to get replaced with the determination of the new sample.

Assertion (A) : In India, census is undertaken only once in five years.
Reason (R) : Taking census is a costly affair.

Which of the following is the correct assertion and its reason?

  1. (A) and (R) are true, and (R) is the correct explanation of (A).

  2. (A) and (R) are true, but (R) is not the correct explanation of (A).

  3. (A) is true but (R) is false.

  4. (A) is false but (R) is true.


Correct Option: D
Explanation:

In India, census is conducted in every ten years to get the correct estimation of its population though taking census is a very costly and time consuming process .

Expand the term BCBS.

  1. Bank's Committee on Banking Supervision

  2. Basel Committee on Banking Supervision

  3. Bank's Commission on Banking Supervision

  4. Basel Commission on Banking Supervision


Correct Option: D

Fill in the blanks with appropriate substitute given in the brackets.
Statistics involve collection of _________.

  1. diagrams

  2. laws

  3. graphs

  4. data


Correct Option: D

________ is the difference between the upper and the lower limit of the class.

  1. Class Interval

  2. Class Tally

  3. Class Frequency

  4. Class Mark


Correct Option: A
Explanation:

The difference between the upper and  lower limit of class is the class interval.
Example class interval 10-20, here 10 is the lower limit and 20 is the upper limit.

Time series is an important statistical technique which is widely used by __________.

  1. business executives

  2. financial analysts

  3. economists

  4. all of above


Correct Option: D

Time series is an important statistical technique which is widely used by _________.

  1. Scientists

  2. Sociologists

  3. Research workers

  4. All of above


Correct Option: D

The distribution.
Values (less than)               20  25   30   35  40  45  50
Frequency is of the type     5   12    15   20  15   10   5 

  1. exclusive class type

  2. discrete type

  3. inclusive class type

  4. none of them


Correct Option: A

The Multiplicative Model of a time series is expressed is :

  1. $Y _{t} = T _{t} \times C _{t} \times S _{t} \times R$

  2. $Y _{t} = T _{t} - C _{t} - S _{t} - R _{t}$

  3. $Y _{t} = T _{t} + C _{t} + S _{t} + R _{t}$

  4. $Y _{t} = T _{t}\cap C _{t}\cup S _{t} \cup R _{t}$


Correct Option: A