Econometrics Quiz 1.1 - MinhajMetricsHub

Welcome to your Econometrics Quiz 1.1!

Note: You will be given 20 minutes to solve 25 MCQs. The quiz will be automatically submitted once the time expires.

NAME

Which field provides numerical estimates of economic relationships?

Econometrics

Mathematical economics

Economic theory

Economic statistics

None

The first Nobel Prize in Economic Sciences was given to …

Tinbergen and Klein

Frisch and Klein

Marshall and Tinbergen

Frisch and Tinbergen

None

Which data is collected directly by the researcher?

Panel data

Secondary data

Time series data

Primary data

None

Which data is already available from published sources?

Primary data

Panel data

Cross-sectional data

Secondary data

None

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

Econometrics is based on economic theory

Statistics studies causal inference

Econometrics does not use probability

Statistics uses data but econometrics not

None

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

Time-series data

Panel data

Pooled data

Cross-section data

None

Residual in regression is calculated as:

Actual - Mean of Y

Predicted − Actual

Slope * X

Actual − Predicted

None

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

Panel data

Cross-section data

Time-series data

Pooled data

None

A panel is called balanced when:

All units have same time observations

Variables are stationary

There is no heterogeneity

Sample size is large

None

10.

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

Only data collection

Testing economic theory with data

Only theoretical analysis

To create mathematical models only

None

11.

Which data type records observations over time for one variable?

Time series data

Pooled data

Panel data

Cross-section data

None

12.

Econometrics is mainly concerned with:

Quantitative analysis of economic relationships

Qualitative description of economics

Theoretical analysis of economics

Expressing economic theory in equations

None

13.

Economic theory differs from econometrics because economic theory:

Uses only data

Tests hypotheses empirically

Provides numerical estimates

Mostly qualitative in nature

None

14.

Which of the following is a limitation of econometrics?

Cannot test theory

Does not provide reliable results

Does not use mathematics

Depends heavily on data quality

None

15.

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

GDP of Pakistan from 2000–2020

Monthly rainfall for 10 years I

Income of 100 households in 2024

Inflation rate of Asian countries for 25 years

None

16.

The role of mathematics in econometrics is to:

Express economic theory in equations

Conduct surveys

Interpret results of economic relationships

Collect data

None

17.

Econometricians are mainly interested in:

Descriptive analysis

Causal inference

Data classification

Statistical inference

None

18.

Which of the following is NOT a component of econometrics?

Mathematics

Statistics

Economic theory

Psychology

None

19.

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

Qualitative data

Cross-section

Time series

Panel data

None

20.

Panel data is also known as:

Qualitative data

Longitudinal data

Combined data

Time-series data

None

21.

Who coined the term Econometrics?

Alfred Marshall

Lawrence Klein

Jan Tinbergen

Ragnar Frisch

None

22.

Economic statistics is primarily concerned with:

Estimating regression models

Collecting and presenting economic data

Hypothesis testing

Causal inference

None

23.

The role of statistics in econometrics is to:

Estimate parameters and test hypotheses

Develop theories

Manage financial records

Express economic theory into equations

None

24.

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

Cross-sectional data

Panel data

Primary data

Time series data

None

25.

Which of the following best describes pooled data?

Data collected at single point int time for several units

Data collected over time for single entity

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

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

None

1 out of 25

Congratulations on completing the quiz!

— Department of Economics, Govt. Graduate College Jauharabad