Basic to Advanced Econometrics MCQs 1.1

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Name

Which data is collected directly by the researcher?

Panel data

Time series data

Primary data

Secondary data

None

The role of mathematics in econometrics is to:

Conduct surveys

Collect data

Express economic theory in equations

Interpret results of economic relationships

None

Which of the following is NOT a component of econometrics?

Statistics

Economic theory

Psychology

Mathematics

None

Which of the following is a limitation of econometrics?

Cannot test theory

Depends heavily on data quality

Does not use mathematics

Does not provide reliable results

None

Which field provides numerical estimates of economic relationships?

Economic statistics

Econometrics

Mathematical economics

Economic theory

None

Econometricians are mainly interested in:

Descriptive analysis

Data classification

Causal inference

Statistical inference

None

Data containing observations on same several units over several time periods is called:

Panel data

Qualitative data

Cross-section

Time series

None

A panel is called balanced when:

Variables are stationary

Sample size is large

All units have same time observations

There is no heterogeneity

None

Panel data is also known as:

Time-series data

Combined data

Qualitative data

Longitudinal data

None

10.

Econometrics is mainly concerned with:

Theoretical analysis of economics

Qualitative description of economics

Expressing economic theory in equations

Quantitative analysis of economic relationships

None

11.

Data on Quarterly GDP of Pakistan from 2020 to 2024 is an example of:

Cross-section data

Panel data

Time-series data

Pooled data

None

12.

Which of the following is a major difference between econometrics and statistics?

Statistics uses data but econometrics not

Econometrics does not use probability

Statistics studies causal inference

Econometrics is based on economic theory

None

13.

Crime index, corruption index and unemployment of 30 countries from 2000 to 2023 is an example of:

Pooled data

Panel data

Time-series data

Cross-section data

None

14.

Residual in regression is calculated as:

Actual − Predicted

Slope * X

Actual – Mean of Y

Predicted − Actual

None

15.

Which data is already available from published sources?

Cross-sectional data

Panel data

Primary data

Secondary data

None

16.

Economic statistics is primarily concerned with:

Collecting and presenting economic data

Causal inference

Hypothesis testing

Estimating regression models

None

17.

Which data type records observations over time for one variable?

Cross-section data

Pooled data

Time series data

Panel data

None

18.

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

Income of 100 households in 2024

Inflation rate of Asian countries for 25 years

GDP of Pakistan from 2000–2020

Monthly rainfall for 10 years I

None

19.

Which of the following statements best explains the scope of econometrics?

To create mathematical models only

Only theoretical analysis

Only data collection

Testing economic theory with data

None

20.

Economic theory differs from econometrics because economic theory:

Mostly qualitative in nature

Provides numerical estimates

Tests hypotheses empirically

Uses only data

None

21.

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

Cross-sectional data

Primary data

Time series data

Panel data

None

22.

Who coined the term Econometrics?

Alfred Marshall

Lawrence Klein

Jan Tinbergen

Ragnar Frisch

None

23.

Which of the following best describes pooled data?

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

Data collected at single point int time for several units

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

Data collected over time for single entity

None

24.

The first Nobel Prize in Economic Sciences was given to …

Frisch and Klein

Frisch and Tinbergen

Tinbergen and Klein

Marshall and Tinbergen

None

25.

The role of statistics in econometrics is to:

Develop theories

Express economic theory into equations

Estimate parameters and test hypotheses

Manage financial records

None

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You have completed the Basic to Advanced Econometrics MCQs 1.1

Basic to Advanced Econometrics MCQs 1.1

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