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

Inflation rate of Asian countries for 25 years

GDP of Pakistan from 2000–2020

Income of 100 households in 2024

Monthly rainfall for 10 years I

None

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

Only theoretical analysis

To create mathematical models only

Only data collection

Testing economic theory with data

None

Which data is already available from published sources?

Panel data

Secondary data

Cross-sectional data

Primary data

None

Which of the following is NOT a component of econometrics?

Economic theory

Statistics

Mathematics

Psychology

None

Economic statistics is primarily concerned with:

Hypothesis testing

Causal inference

Estimating regression models

Collecting and presenting economic 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

Residual in regression is calculated as:

Actual - Mean of Y

Slope * X

Predicted − Actual

Actual − Predicted

None

Which data type records observations over time for one variable?

Time series data

Cross-section data

Panel data

Pooled data

None

The role of mathematics in econometrics is to:

Express economic theory in equations

Conduct surveys

Interpret results of economic relationships

Collect data

None

10.

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

Pooled data

Panel data

Cross-section data

Time-series data

None

11.

Econometricians are mainly interested in:

Statistical inference

Descriptive analysis

Causal inference

Data classification

None

12.

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

Panel data

Cross-sectional data

Time series data

Primary data

None

13.

Which of the following is a limitation of econometrics?

Does not provide reliable results

Does not use mathematics

Depends heavily on data quality

Cannot test theory

None

14.

Econometrics is mainly concerned with:

Qualitative description of economics

Theoretical analysis of economics

Expressing economic theory in equations

Quantitative analysis of economic relationships

None

15.

The role of statistics in econometrics is to:

Estimate parameters and test hypotheses

Express economic theory into equations

Manage financial records

Develop theories

None

16.

Panel data is also known as:

Combined data

Qualitative data

Longitudinal data

Time-series data

None

17.

The first Nobel Prize in Economic Sciences was given to …

Marshall and Tinbergen

Tinbergen and Klein

Frisch and Klein

Frisch and Tinbergen

None

18.

Which of the following best describes pooled data?

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

None

19.

Which field provides numerical estimates of economic relationships?

Econometrics

Economic theory

Mathematical economics

Economic statistics

None

20.

A panel is called balanced when:

Sample size is large

Variables are stationary

All units have same time observations

There is no heterogeneity

None

21.

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

Qualitative data

Time series

Cross-section

Panel data

None

22.

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

Time-series data

Pooled data

Cross-section data

Panel data

None

23.

Which data is collected directly by the researcher?

Primary data

Time series data

Panel data

Secondary data

None

24.

Economic theory differs from econometrics because economic theory:

Tests hypotheses empirically

Provides numerical estimates

Uses only data

Mostly qualitative in nature

None

25.

Who coined the term Econometrics?

Jan Tinbergen

Ragnar Frisch

Lawrence Klein

Alfred Marshall

None

1 out of 25

Congratulations on completing the quiz!

— Department of Economics, Govt. Graduate College Jauharabad