Econometrics-1 Test (2) 5th Regular (2023-2027)

Welcome to your Econometrics-1 Test (2) 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.
Once you submit, you cannot change your answers.
Make sure you have a stable internet connection before starting.

Good luck!

Name

Roll No.

An estimator is:

A fixed constant

A numerical value

A population value

A rule or formula used to estimate a parameter

None

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

GDP of Pakistan from 2000–2020

Income of 100 households in 2024

Monthly rainfall for 10 years I

Inflation rate of Asian countries for 25 years

None

Panel data is characterized by:

Same entity observed over multiple time periods

Multiple entities at a single time

Randomly selected observations

Only experimental observations

None

A deterministic relationship means:

Non-linear relationship

Negative relationship

Exact relationship without randomness

Random relationship

None

Which of the following is NOT an objective of econometrics?

Testing economic theories

Eliminating uncertainty in economics

Estimating economic coefficients

Evaluating policies

None

A stochastic relationship includes:

Perfect prediction

Exact values

Random disturbance term

No error

None

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

Primary data

Cross-sectional data

Panel data

Time series data

None

Economic statistics mainly deals with:

Estimating causal relationships

Testing economic models

Predicting economic policies

Collecting and presenting economic data

None

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 MPC and slope coefficient is autonomous consumption

Intercept is autonomous savings and slope coefficient is MPS

None

10.

Gender and religion are examples of:

Quantitative variables

Qualitative variables

Continuous variables

Ratio variables

None

11.

Balanced panel data means:

Only time series data

All variables have equal variance

Each cross-section has the same number of time observations

No correlation between variables

None

12.

The variable whose value is predicted in regression is called:

Random variable

Dependent variable

Independent variable

Control variable

None

13.

GDP, exports, and investment are examples of:

Quantitative data

Qualitative data

Categorical data

Nominal data

None

14.

Coefficient of determination (R²) measures:

Percentage of variation in Y explained by X

Standard deviation of residuals

Correlation between errors

Variance of X

None

15.

Data collected directly through surveys or interviews is called:

Experimental data

Primary data

Secondary data

Panel data

None

16.

Panel data is also known as:

Longitudinal data

Time-series data

Qualitative data

Combined data

None

17.

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

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

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

None

18.

Regression analysis is mainly used to:

Measure correlations

Classify variables

Measure relationship and predict values

Collect data

None

19.

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

R² = 0

R² = 1

R² = 0.5

R² = −1

None

20.

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

Primary data

Survey data

Secondary data

Experimental data

None

21.

An estimate is:

A fixed constant

A numerical value

A population value

A rule or formula used to estimate a parameter

None

22.

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

ESS/TSS, 0 to 10

ESS/TSS, It lies between -1 and 1

TSS / ESS, It lies between 0 and 1

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

None

23.

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

90% of variation in income is explained by consumption

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

None

24.

Which of the following is NOT a component of econometrics?

Statistics

Economic theory

Mathematics

Psychology

None

25.

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

Data collected at single point int time for several units

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

None

26.

Mathematical economics differs from econometrics because it:

Tests hypotheses statistically

Expresses theory in mathematical form without empirical verification

Estimates regression coefficients

Uses empirical data

None

27.

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 change in X due to one unit change in Y

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

β₀ is intercept and β₁ is slope coefficient

None

28.

Data collected through controlled experiments is known as:

Cross-section data

Observational data

Secondary data

Experimental data

None

29.

The correlation coefficient ranges between:

−1 to +1

0 to 1

0 to 10

−∞ to +∞

None

30.

The least squares method estimates parameters by:

Maximizing correlation

Minimizing squared residuals

Minimizing variance

Minimizing absolute errors

None

1 out of 30

Congratulations!

You have successfully completed the Econometrics-1 Test (2) 5th Regular (2023-2027)
Your answers have been recorded by the system.
Results will be shared by the instructor after evaluation.

Econometrics-1 Test (2) 5th Regular (2023-2027)

Comments

Leave a Reply Cancel reply

More posts

Demand and Law of Demand: Definition, Curve & Examples

Box-Jenkins Methodology in EViews: Step-by-Step ARIMA Guide

Box-Jenkins Methodology: Complete ARIMA Forecasting Guide

Nobel Prize in Economics Winners 1969–2026: Full List