Econometrics-I Test 5th Regular (2023-2027)

Welcome to your Econometrics-I Test 5th Regular (2023-2027)

This quiz consists of 30 multiple-choice questions, each carrying 1 mark.
You have 30 minutes to complete the quiz.
Read each question carefully and select the best answer.
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Name

Roll No.

Panel data is also known as:

Combined data

Time-series data

Longitudinal data

Qualitative data

None

In a simple linear regression model what does β₀ and β₁ represents?

β₀ is the value of X when Y=0 and β₁ is slope coefficient

β₀ is intercept and β₁ is change in X due to one unit change in Y

β₀ is intercept and β₁ is slope coefficient

β₀ is slope coefficient and β₁ is intercept

None

Which of the following is NOT an objective of econometrics?

Eliminating uncertainty in economics

Testing economic theories

Estimating economic coefficients

Evaluating policies

None

Which of the following statement is correct for coefficient of determination?

TSS / ESS, It lies between 0 and 1

1-(RSS / TSS), It lies between 0 and 1

ESS/TSS, 0 to 10

ESS/TSS, It lies between -1 and 1

None

In a demand function if slope coefficient = -0.55, what does it mean?

1 unit increase in quantity demanded is associated with 0.55 units decrease in price

1 unit increase in quantity demanded is associated with 0.55 units increase in price

1 unit increase in price is associated with 0.55 units decrease in quantity demanded

1 unit increase in price is associated with 0.55 units increase in quantity demanded

None

An estimate is:

A fixed constant

A rule or formula used to estimate a parameter

A population value

A numerical value

None

Gender and religion are examples of:

Ratio variables

Quantitative variables

Qualitative variables

Continuous variables

None

A stochastic relationship includes:

Random disturbance term

Exact values

No error

Perfect prediction

None

Which of the following best describes pooled data?

Combination of cross-section and time series with tracking the same units

Combination of cross-section and time series without tracking the same units

Data collected at single point int time for several units

Data collected over time for single entity

None

10.

Mathematical economics differs from econometrics because it:

Tests hypotheses statistically

Expresses theory in mathematical form without empirical verification

Uses empirical data

Estimates regression coefficients

None

11.

Panel data is characterized by:

Multiple entities at a single time

Only experimental observations

Same entity observed over multiple time periods

Randomly selected observations

None

12.

Balanced panel data means:

All variables have equal variance

Only time series data

No correlation between variables

Each cross-section has the same number of time observations

None

13.

Coefficient of determination (R²) measures:

Correlation between errors

Variance of X

Percentage of variation in Y explained by X

Standard deviation of residuals

None

14.

Regression analysis is mainly used to:

Classify variables

Collect data

Measure relationship and predict values

Measure correlations

None

15.

A deterministic relationship means:

Exact relationship without randomness

Non-linear relationship

Random relationship

Negative relationship

None

16.

Which of the following is an example of cross-sectional data?

Income of 100 households in 2024

Monthly rainfall for 10 years I

Inflation rate of Asian countries for 25 years

GDP of Pakistan from 2000–2020

None

17.

In a consumption function if r-squared = 0.90 it means:

About 9% of variation in income is explained by consumption

About 9% of variation in consumption is explained by income

90% of variation in income is explained by consumption

90% of variation in consumption is explained by income

None

18.

Data collected directly through surveys or interviews is called:

Panel data

Experimental data

Primary data

Secondary data

None

19.

Which of the following is NOT a component of econometrics?

Mathematics

Psychology

Statistics

Economic theory

None

20.

Data collected at one point in time for several individuals is called:

Panel data

Cross-sectional data

Primary data

Time series data

None

21.

Data obtained from sources like WDI or published reports is known as:

Experimental data

Survey data

Secondary data

Primary data

None

22.

An estimator is:

A population value

A rule or formula used to estimate a parameter

A fixed constant

A numerical value

None

23.

Data collected through controlled experiments is known as:

Observational data

Experimental data

Secondary data

Cross-section data

None

24.

The correlation coefficient ranges between:

0 to 10

−∞ to +∞

−1 to +1

0 to 1

None

25.

GDP, exports, and investment are examples of:

Qualitative data

Quantitative data

Nominal data

Categorical data

None

26.

If all observations lie exactly on the regression line, then:

R² = 0

R² = −1

R² = 0.5

R² = 1

None

27.

In consumption function what does intercept, and slope coefficient represent?

Intercept is autonomous consumption and slope coefficient is MPC

Intercept is autonomous consumption and slope coefficient is induced consumption

Intercept is autonomous savings and slope coefficient is MPS

Intercept is MPC and slope coefficient is autonomous consumption

None

28.

Economic statistics mainly deals with:

Collecting and presenting economic data

Predicting economic policies

Testing economic models

Estimating causal relationships

None

29.

The variable whose value is predicted in regression is called:

Control variable

Independent variable

Random variable

Dependent variable

None

30.

The least squares method estimates parameters by:

Minimizing squared residuals

Maximizing correlation

Minimizing variance

Minimizing absolute errors

None

1 out of 30

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Econometrics-I Test 5th Regular (2023-2027)

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