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.

Economic statistics mainly deals with:

Collecting and presenting economic data

Estimating causal relationships

Predicting economic policies

Testing economic models

None

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

R² = −1

R² = 1

R² = 0.5

R² = 0

None

Which of the following best describes pooled data?

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

Data collected over time for single entity

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

Data collected at single point int time for several units

None

The correlation coefficient ranges between:

0 to 1

−∞ to +∞

0 to 10

−1 to +1

None

An estimator is:

A numerical value

A rule or formula used to estimate a parameter

A fixed constant

A population value

None

Data collected through controlled experiments is known as:

Observational data

Cross-section data

Secondary data

Experimental data

None

GDP, exports, and investment are examples of:

Nominal data

Qualitative data

Categorical data

Quantitative data

None

Which of the following is NOT a component of econometrics?

Statistics

Economic theory

Psychology

Mathematics

None

Regression analysis is mainly used to:

Classify variables

Collect data

Measure relationship and predict values

Measure correlations

None

10.

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

ESS/TSS, 0 to 10

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

ESS/TSS, It lies between -1 and 1

TSS / ESS, It lies between 0 and 1

None

11.

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 price is associated with 0.55 units increase in quantity demanded

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

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

None

12.

Panel data is characterized by:

Only experimental observations

Same entity observed over multiple time periods

Randomly selected observations

Multiple entities at a single time

None

13.

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

GDP of Pakistan from 2000–2020

Inflation rate of Asian countries for 25 years

Monthly rainfall for 10 years I

Income of 100 households in 2024

None

14.

Panel data is also known as:

Time-series data

Longitudinal data

Qualitative data

Combined data

None

15.

A stochastic relationship includes:

No error

Exact values

Perfect prediction

Random disturbance term

None

16.

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

Time series data

Cross-sectional data

Panel data

Primary data

None

17.

Balanced panel data means:

No correlation between variables

Only time series data

All variables have equal variance

Each cross-section has the same number of time observations

None

18.

The variable whose value is predicted in regression is called:

Independent variable

Random variable

Dependent variable

Control variable

None

19.

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

Intercept is autonomous savings and slope coefficient is MPS

Intercept is MPC and slope coefficient is autonomous consumption

Intercept is autonomous consumption and slope coefficient is MPC

Intercept is autonomous consumption and slope coefficient is induced consumption

None

20.

An estimate is:

A fixed constant

A numerical value

A population value

A rule or formula used to estimate a parameter

None

21.

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

90% of variation in consumption is explained by income

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

None

22.

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

Experimental data

Secondary data

Survey data

Primary data

None

23.

Mathematical economics differs from econometrics because it:

Expresses theory in mathematical form without empirical verification

Tests hypotheses statistically

Uses empirical data

Estimates regression coefficients

None

24.

Gender and religion are examples of:

Qualitative variables

Ratio variables

Continuous variables

Quantitative variables

None

25.

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

β₀ is slope coefficient and β₁ is intercept

β₀ is intercept and β₁ is slope coefficient

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

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

None

26.

A deterministic relationship means:

Exact relationship without randomness

Negative relationship

Random relationship

Non-linear relationship

None

27.

The least squares method estimates parameters by:

Minimizing squared residuals

Minimizing absolute errors

Maximizing correlation

Minimizing variance

None

28.

Which of the following is NOT an objective of econometrics?

Eliminating uncertainty in economics

Estimating economic coefficients

Testing economic theories

Evaluating policies

None

29.

Data collected directly through surveys or interviews is called:

Experimental data

Primary data

Panel data

Secondary data

None

30.

Coefficient of determination (R²) measures:

Correlation between errors

Percentage of variation in Y explained by X

Standard deviation of residuals

Variance of X

None

1 out of 30

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