QTMC 522       (2019)

Assignment Set – 1

1. The variance of a population is known to be 400. At 95% confidence, the margin of error will be

• 92 or less
• 4 or less
• 2 or less
• 29 or less

1. The p-value

• is the same as the Z statistic
• is a distance
• is a probability
• measures the number of standard deviations from the mean

1. In a cumulative relative frequency distribution, the last class will have a cumulative relative frequency equal to

• zero
• the total number of elements in the data set
• one
• 100

1. In hypothesis testing if the null hypothesis is rejected,

• the sample size has been too small
• the alternative hypothesis is true
• the data must have been accumulated incorrectly
• no conclusions can be drawn from the test

1. In hypothesis testing, the tentative assumption about the population parameter is

• either the null or the alternative
• None of these alternatives is correct.
• the alternative hypothesis
• the null hypothesis

1. In determining the sample size necessary to estimate a population proportion, which of the following information is not needed?

• the maximum margin of error that can be tolerated
• a preliminary estimate of the true population proportion P
• the confidence level required
• the mean of the population

1. For which of the following values of P is the value of P(I - P) maximized?

• P = 0.99
• P = 0.50
• P = 0.01
• P = 0.90

1. A 95% confidence interval for a population mean is determined to be 100 to 120. If the confidence coefficient is reduced to 0.90, the interval for µ

• becomes 0.1
• does not change
• becomes wider
• becomes narrower

1. In a random sample of 100 observations, P = 0.2. The 95.44% confidence interval for P is

• 120 to 0.280
• 134 to 0.266
• 164 to 0.236
• 122 to 0.278

1. In general, higher confidence levels provide

• narrower confidence intervals
• a smaller standard error
• wider confidence intervals
• unbiased estimates

1. The level of significance in hypothesis testing is the probability of

• None of these alternatives is correct.
• rejecting a true null hypothesis
• accepting a true null hypothesis
• accepting a false null hypothesis

1. As the number of degrees of freedom for a t distribution increases, the difference between the t distribution and the standard normal distribution

• becomes larger
• becomes smaller
• None of the above answers is correct.
• stays the same

1. In constructing a frequency distribution, as the number of classes are decreased, the class width

• remains unchanged
• decreases
• can increase or decrease depending on the data values
• increases

1. A tabular method that can be used to summarize the data on two variables simultaneously is called:

• an o give
• crosstabulation
• a histogram
• simultaneous equations

1. The absolute value of the difference between the point estimate and the population parameter it estimates is the

• precision
• error of confidence
• sampling error
• standard error

1. If we change a 95% confidence interval estimate to a 99% confidence interval estimate, we can expect

• the size of the confidence interval to increase
• the size of the confidence interval to decrease
• the size of the confidence interval to remain the same
• the sample size to increase

1. A cumulative relative frequency distribution shows

• the percentage of data items with values less than or equal to the upper limit of each class
• the percentage of data items with values less than or equal to the lower limit of each class
• the proportion of data items with values less than or equal to the lower limit of each class
• the proportion of data items with values less than or equal to the upper limit of each class

1. The t value with a 95% confidence and 24 degrees of freedom is

• 069
• 064
• 492
• 711

1. The sum of frequencies for all classes will always equal

• 1
• the number of classes
• the number of elements in a data set
• a value between 0 and 1

1. A researcher is gathering data from four geographical areas designated: South = 1; North = 2; East = 3; Vest = 4. The designated geographical regions represent

• either quantitative or qualitative data
• label data
• quantitative data
• qualitative data

1. In a cumulative percent frequency distribution, the last class will have a cumulative percent frequency equal to

• 100
• 1
• the total number of elements in the data set
• one

1. The ability of an interval estimate to contain the value of the population parameter is described by the

• degrees of freedom
• confidence level
• precise value of thepopulation mean m
• None of the above answers is correct.

1. If several frequency distributions are constructed from the same data set, the distribution with the widest class width will have the

• none of these
• most classes
• fewest classes
• same number of classes as the other distributions since all are constructed from the same data

1. An estimate of a population parameter that provides an interval of values believed to contain the value of the parameter is known as the

• interval estimate
• confidence level
• population estimate
• parameter value

1. The sum of the relative frequencies for all classes will always equal

• any value larger than one
• the number of classes
• the sample size
• one

1. A frequency distribution is a tabular summary of data showing the

• percentage of items in several classes
• fraction of items in several classes
• number of items in several classes
• relative percentage of items in several classes

1. In order to estimate the average time spent on the computer terminals per student at a local university, data were collected for a sample of 81 business students over a one week period Assume the population standard deviation is 1.2 hours. The standard error of the mean is

• 16
• 5
• 133
• 014

1. Whenever the population standard deviation is unknown and the population has a normal or near-normal distribution, which distribution is used in developing an interval estimation?

• z distribution
• standard distribution
• beta distribution
• t distribution

1. Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35% in Management, and 30% in Accounting. The graphical device(s) which can be used to present these data is (are)

• only a pie chart
• a line graph
• both a bar graph and a pie chart
• only a bar graph

1. The confidence associated with an interval estimate is called the

• significance
• confidence level
• precision
• degree of association

 

Assignment Set – 2

1. A histogram is said to be skewed to the left if it has a

• longer tail to the right
• shorter tail to the right
• longer tail to the left
• shorter tail to the left

1. A cumulative relative frequency distribution shows

• The proportion of data items with values less than or equal to the upper limit of each class
• the proportion of data items with values less than or equal to the lower limit of each class
• the percentage of data items with values less than or equal to the upper limit of each class
• the percentage of data items with values less than or equal to the lower limit of each class

1. A researcher is gathering data from four geographical areas designated :South = I; North = 2; East = 3; West = 4. The designated geographical regions represent

• either quantitative or qualitative data
• qualitative data
• quantitative data
• label data

1. A frequency distribution is a tabular summary of data showing the

• fraction of items in several classes
• relative percentage of items in several classes
• percentage of items in several classes
• number of items in several classes

1. When the level of confidence increases, the confidence interval

• stays the same
• becomes narrower
• becomes wider
• cannot tell from the information given

1. The most common graphical presentation of quantitative data is a

• relative frequency
• pie chart
• bar graph
• histogram

1. A frequency distribution is

• a tabular summary of a set of data showing the frequency of items in each of several nonoverlapping classes
• a tabular summary of a set of data showing the relative frequency
• a graphical device for presenting qualitative data
• a graphical form of representing data

1. The confidence associated with an interval estimate is called the

• significance
• confidence level
• precision
• degree of association

1. The p-value

• measures the number of standard deviations from the mean
• is the same as the Z statistic
• is a distance
• is a probability

1. In constructing a frequency distribution, as the number of classes are decreased, the class width

• can increase or decrease depending on the data values
• remains unchanged
• decreases
• increases

1. We are interested in conducting a study in order to determine what percentage of voters of a state would vote for the incumbent governor. What is the minimum size sample needed to estimate the population proportion with a margin of error of 0.05 or less at 95% confidence?

• 100
• 200
• 196
• 58

1. In a random sample of 100 observations, P = 0.2. The 95.44% confidence interval for P is

• 120 to 0.280
• 134 to 0.266
• 122 to 0.278
• 164 to 0.236

1. An estimate of a population parameter that provides an interval of values believed to contain the value of the parameter is known as the

• confidence level
• population estimate
• interval estimate
• parameter value

1. The difference between the point estimate, such as the sample mean, and the value of the population parameter it estimates, such as the population mean, is known as the

• confidence level
• interval estimate
• parameter estimate
• sampling error

1. Whenever using the t distribution in estimation, we must assume that

• the sampling distribution is approximately normal
• the finite population correction factor is necessary
• the population is approximately normal
• the sample size is at least 30

1. The difference between the lower class limits of adjacent classes provides the

• class midpoint
• class width
• class limits
• number of classes

1. If a hypothesis is rejected at the 5% level of significance, it

• Will never be tested at the 1%level
• may be rejected or not rejected at the 1% level
• will always be accepted at the 1% level
• will always be rejected at the 1% level

1. For which of the following values of P is the value of P(I - P) maximized?

• P = 0.01
• P = 0.99
• P = 0.50
• P = 0.90

1. A probability statement about the sampling error is known as the

• precision
• confidence
• interval
• error

1. In general, higher confidence levels provide

• a smaller standard error
• wider confidence intervals
• unbiased estimates
• narrower confidence intervals

1. In hypothesis testing if the null hypothesis is rejected,

• the sample size has been too small
• no conclusions can be drawn from the test
• the data must have been accumulated incorrectly
• the alternative hypothesis is true

1. Qualitative data can be graphically represented by using a(n)

• bar graph
• frequency polygon
• histogram
• o give

1. The t value with a 95% confidence and 24 degrees of freedom is

• 711
• 069
• 492
• 064

1. A 95% confidence interval for a population mean is determined to be 100 to 120. If the confidence coefficient is reduced to 0.90, the interval for µ

• becomes 0.1
• becomes wider
• does not change
• becomes narrower

1. An interval estimate is a range of values used to estimate

• a sample statistic
• a population parameter
• the shape of the population's distribution
• the sampling distribution

1. After computing a confidence interval, the user believes the results are meaningless because the width of the interval is too large. Which one of the following is the best recommendation?

• Discard the current data and try a different sample.
• Increase the level of confidence for the interval.
• Reduce the population variance.
• Increase the sample size.

1. In hypothesis testing, the tentative assumption about the population parameter is

• the null hypothesis
• the alternative hypothesis
• either the null or the alternative
• None of these alternatives is correct.

1. A situation in which conclusions based upon aggregated cross tabulation are different from unaggregated crosstabulation is known as

• Simpson's rule
• wrong crosstabulation
• Simpson's paradox
• aggregated crosstabulation

1. The sum of the relative frequencies for all classes will always equal

• any value larger than one
• the sample size
• one
• the number of classes

1. As the sample size increases, the sampling error

• increases
• None of the above answers is correct.
• decreases
• stays the same

 

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FINC512.  Assignment

 

1.Which of the following is an operating item?

• Interest paid
• salmy paid
• share capital issued

2 . Accounting Standards are issued by which of the following entity, in India?

• ICAI
• SEBI
• RBI
• IFRS

3 . A business has paid the rent for the period Jan-March 2016 in June'2016, in which year financial statements this rent expenses will be recorded?

• 2015
• 2016
• 2017 
• All of the above

4 . Both assets and owner's equity would be increased by __________________

• capital brought in
• Purchase of an asset on credit.
• Payment of creditors.
• Proprietors drawings.

5 . Who approves the financial statements of a company?

• Auditors
• Shareholders
• Management
• Board of Directors

6 . Which of the following can be categorized as discretionary Expense

• Purchase
• Salary
• Repair & Maintenance
• R&D Expense

7 . The Share Capital of a company is Rs 10 Cr divided in 10 Lac number of shares. Calculate the face value of share

• Rs 100
• Rs 1000
• Rs10
• Rs1

8 .  Which of the following statement shows the financial position of a business entity as on date?

• Income Statement
• Balance Sheet
• Trial Balance
• Cash Flow Statement

9 . Which of the following self genearted intangible asset can be recorded in books of account?

• Goodwill
• Technical Know-How
• Software
• All of the Above

10 . If manufacturing expenses are Rs 20000, interest expenses Rs 4000, cash sales is Rs 30000. Increase in inventory and debtors is Rs 5000 and Rs 7000 respectively. While increase in accounts payable is 9000. Calculate the cash flow from operations?

• Rs 9000
• Rs 3000
• Rs 7000
• Rs 12000

11 . Proceeds on the sale of fixed assets will be shown in which part of the cash flow statement, if indirect method is followed?

• Operating Cash Flow
• Financing Cash Flow
• Investing Cash Flow
• None of the above

12 . XYZ Ltd paid Salaries of Rs 200000 in the month of March'2016. Journalize the transaction.

• Cash A'c Debited to Salary
• Salary A/c Debited to Cash
• Employees A/c Debited to Cash
• Employees A/c Debited to Salary

13 . Security Premium Reserve is an example of  ________________

• Revenue Reserve
• Capital Reserve
• Reserve Capital
• Revaluation Reserve

 

14 . Which of the following can be categorised as Revenue?

• Sale of goods
• Sale of Old Furniture
• Dividend Received
• All of the above

15 . In which of the following bo;oks, seprate account is maintained for each item?

• Ledger
• Accounting Equation
• Trial Balance
• Journal

16 . Credit sales for the year is Rs 100000 and closing debtors are Rs10000. Calculate the collection period of the firms?

• 10 days
• 36.5 days
• 27.39 days
• None of the above

 

17 . Capital contributed by owners is recorded as liability as per which of the following concept?

• Monetary Unit
• Economic Entity
• Going Concern
• Dual Aspect

 

18 . ABC Ltd Purchased Machinery on 1st October 2017 at cost price of Rs 5 Lacs. There is no salvage value and estimated useful life of Machinery is 5 years. How much depreciation should be charged for Year 2017-18?

• 1 Lac
• Zero
• 50000
• None of these

19 . A new firm commenced business on 1st January 20016 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs.1,20,000. What is the gross profit earned by the firm?

• Rs 36000
• Rs 30000
• Rs 42000
• Rs 38000

20 . Loss on the sale of Fixed Assets will be shown in which part of the cash flow statement, if indirect method is followed?

• Operating Cash Flow
• Financing Cash Flow
• Investing Cash Flow
• None of the above

21 . Which of the following is liquidity ratio

• Debt to Equity Ratio
• Return on Investment
• Total Asset Turnover Ratio
• Current Ratio

 

22 . In which of the following books, transactions are first time recorded?

• Ledger
• Accounting Equation
• Trial Balance
• Journal

23 . Operating expenses of Moon Ltd are Rs 18000, Interest expenses Rs 5000, Tax paid Rs 4000. If Sales is Rs 35000 then calculate the Net Profit Margin?

• 0.2285
• 0.7714
• 0.51
• 0 0.0657

24 . Purchase of machinery against issue of shares will be shown in which part of the cash flow statement?

• Operating Cash Flow
• Financing Cash Flow
• Investing Cash Flow
• None of the above

25 . A credit sale of goods to Mohan should be debited to

• Sales account
• Mohan account
• Goods account
• Purchase account

 

26 . Which of the following is an financing item?

• Interest paid
• Salary paid
• Dividend received
• Share capital issued

 

27 . While preparing cash flow statements, the repayments of a loan during the year should be included under the heading of

• Operating Cash Flow
• Financing Cash Flow
• Investing Cash Flow
• None of the above

 

28 . The balance of cash account indicates______________

• Net income for the period
• Net loss for the period
• Net cash on hand
• Net worth of the business

 

29 . Which of the following statement shows the Net Profit/Loss earned by a business entity?

• Income Statement
• Balance Sheet
• Trial Balance
• Cash Flow Statement

30 . Every accounting transaction must at least affect      -_________accounts?

• One
• Two
• Three
• Four

 

Test-1 (2019) FNC-512

1. A business has paid the rent for the period Jan-March 2016 in Jllle'2016, in which year financial statements this rent expenses will be recorded?

 

• 2015
• 2016
• 2017
• All of the above

 

 

2. Security Premium Reserve is an example of

• Revenue Reserve
• Capital Reserve
• Reserve Capital
• Revaluation Reserve

3. Inwhich of the following books, separate accowit is maintained for each item?

• Ledger
• Accowiting Equation
• Trial Balance
• Joumal

4. Credit sales for the year is Rs 100000 and closing debtors are RslOOOO. Calculate the collection period of the firm

• 10 days
• 36.5 days
• 27.39 days
• None of the above

5. Advance from Customers is a example of

• Asset
• Liability
• lncome
• Expense

6. Both assets and owner 's equity would be increased by

• capital brought in
• Purchase of an asset on credit.
• Payment of creditors.
• Proprietors drawings.

7. The balance  cash account it indicates

• Net income for the period
• Net loss for the period
• Net cash on hand
• Net worth of the business

                               

8. Capital continued by owners is recorded as liability as per which of the following concept.

• Monetary Unit
• Economic   Entity
• Going Concern
• Dual Aspect

9. Which of the following can be categorized as discretionary Expense

• Purchase
• Salary
• Repair & Maintenance
• R&D Expense

10. Which of the following self-generated intangible asset can be recorded in books of account.

• Goodwill
• Technical Know-How
• Software
• All of the Above

11. On 1st April 2017 P Ltd sells 100000 shares of Dabur India Ltd to Q Ltd at Rs 400 per share (Market price on that day) with an agreement to repurchase the same at Rs 4 12 per share on 31st Dec 2017. How the transaction should be presented in financial statements of P Ltd

• Sale of Investment
• Sale of Shares
• Borrowings
• Investment

12. A credit sale of goods to Mohan should be credited to

• Sales accowit
• Mohan accowit
• Goods accowit
• Purchase accowit

13. Which of the following statement shows the financial position of a business entity as on date?

• Income Statement
• Balance Sheet
• Trial Balance
• Cash Flow Statement

14. XYZ Ltd paid Salaries of Rs 200000 inthe month of March'2016. Journalize the transaction.

• Cash Ale Debited to Salary
• Salary Ale Debited to Cash
• Employees Ale Debited to Cash
• Employees Ale Debited to Salary

15 . Proceeds on the sale of fixed assets will be shown in which part of the cash flow statement, if indirect method is followed?

• Operating Cash Flow
• Financing Cash Flow
• Investing Cash Flow
• None of the above

16. A credit sale of goods to Mohan should be debited to

• Sales accowit
• Mohan accowit
• Goods accowit
• Purchase accowit

17. Which of the following is a financing item?

• Interest paid
• salary paid
• dividend received
• share capital issued

18. Which of the following is basic accounting  equation?

• Capital-Liabilities =Assets
• Assets + Liabilities = Capital
• Assets+ Capital = Liabilities
• Liabities+ Capital =Assets

19. Wages paid to workers must be debited to    accowit

• Wages
• Machinary
• Factiry Expenses
• Office Expenses

20. Which of the following is an example out Business liability?

• Land
• Building
• Cash
• Creditors

21. In which of the following firm structure liability of owners is wilimited

• Sole   Proprietorship
• Ltd Liability Partnership
• Pvt. Ltd Company
• Public Ltd Company

 

22. Decline in the value of intangible assets in a given year is known as.

• Depreciation
• Amortization
• Depletion
• Any of the above_

23. If manufacturing expenses are Rs 20000, interest expenses Rs 4000, cash sales is Rs 30000. Increase in inventory and debtors is Rs 5000 and Rs 7000 respectively. While increase in accowits payable is 9000. Calculate the cash flow from operations?

• Rs 9000
• Rs 3000
• Rs 7000
• Rs 12000

24. Higher Debt-Equity ratio indicates

• High Operating Risk
• Low Operating Risk
• High Financial Risk
• Low Financial Risk

25 . in which of the following firm structure compliance cost is maximum

• Sole   Proprietorship
• Ltd Liability Partnership
• Pvt. Ltd Company
• Public Ltd Company

26. Inwhich of the following form of business, income is taxed separately from its owners

• Sole Proprietorship
• Partnership
• Corporation
• All of the above

 

27. Inwhich of the following statement, final balances of all the accowits are prepared in the form of a list

• Ledger
• Accowiting Equation
• Trial Balance
• Journal

 

28. If total liabilities decreased by Rs20000 and stockholders' equity increased by Rs5,000 during a period of time, then total assets  " must change by what amount and direction during that same time period?

• Rsl5000 increase
• Rsl5000 decrease
• Rs 25000 increase
• Rs 25000 decrease

 

29. ABC Ltd Purchased Machinery on 1st October 2017 at cost price of Rs 5 Lacs. There is no salvage value and estimated useful              " life of Machinery is 5 years. How much depreciation should be charged for Year 2017- 18?

• 1 Lac
• Zero
• 50000
• None of the above

 

30. While preparing cash flow statements, the repayments of a loan during the year should be included wider the heading of.

• Operating Cash Flow
• Financing Cash Flow
• Investing Cash Flow
• None of the above

 

Assignment -2 ( 2019 ) FNC -512

1. Wages paid to workers must be debited to      accowit

• Wages
• Machinary
• Factiry Expenses
• Office Expenses

2. When a Liability is increased, it is recorded on the

• Credit  Side
• Debit  Side
• Left Hand Side
• Any of the above

4. Capital continued by owners is recorded as liability as per which of the following concept?

• Monetary Unit
• Economic Entity
• Going Concern
• Dual Aspect

3. Operating expenses of Moon Ltd are Rs 18000, Interest expenses Rs 5000, Tax paid Rs 4000. If Sales is Rs 35000 then calculate the Net Profit Margin?

 

• 00.2285
• 00.77 14
• 00.51
• 00.0657

5. Credit sales for the year is Rs I 00000 and closing debtors are Rs I 0000. Calculate the collection period of the firm?

• 10 days
• 036.5 days
• 027.39 days
• 0None of the above

6. On !st April 2017 P Ltd sells 100000 shares of Dabur India Ltd to Q Ltd at Rs 400 per share (Market price on that day) with an agreement to repurchase the same at Rs 412 per share on 31st Dec 2017 . How the transaction should be presented in

financial staternenbts of P Ltd.

• Sale of Investment
• Sale of Shares
• Borrowings
• Investment

7. In order to reflect the efficiency in debtor's management, Debtor turnover ratio should be.      ?

• lncreased
• Decreased
• Kept Constant
• •None of the above

8              Ram's acco1U1t in the acco1U1ts payable ledger has a Rs.2000 beginning balance. After a transaction for Rs.500 is posted from the plD'chasesjolD'nal, the balance in Ram's acco1U1t is     __

• 1500 Credit
• 1500 Debit
• 2500 Credit
• 2500 Debit

 

9. A credit sale of goods to Mohan should be credited to

• Sales account
• Mohan account
• Goods account
• Purchase account

10. Every acco1U1ting transaction must at least affect    accounts?

two

11. loss on the sale of fixed assets will shown in which part of the cash flow statement . if indirect method is followed.

. operating cash flow

financing cash flow

investing cash

none of the above

12. Advance from Customers is a example of       ?

assets

13. Both assets and owner 's equity would be increased by            _

• capital brought in
• Purchase of an asset on credit.
• Payment of creditors.
• Proprietors drawings

 

14. 15000 dec.
15. Security Premiwn Reserve is an example of.

• Revenue Reserve
• Capital Reserve
• Reserve Capital
• Revaluation Reserve

16. A credit sale of goods to Mohan should be debited to               __

sales ac

17. Which of the following is an financing item

• Interest paid
• salary paid
• dividend received
• share capital issued

 

 

 

18. which of the following is an example ot business liability?

• land
• Building
• Cash
• Creditors

19. XYZ Ltd paid Salaries of Rs 200000 in the month of March'2016. Journalize the transaction

• Cash Ale Debited to Salary
• Salary Ale Debited to Cash
• Employees Ale Debited to Cash
• Employees Ale Debited to Salary

20. Inwhich of the following firm structure liability of owners is unlimited

• Sole Proprietorship
• Ltd Liability Partnership
• Pvt. Ltd Company
• Public Ltd Company

21. which  of the following is an operating item?

• Interest paid
• salary paid
• dividend received
• share capital issued

22.There was a fire in M Ltd Godown. It resulted into loss of Rs 5 Cr goods. However the insurance company accepted the claim of Rs 4 .5 Cr only. This willresult in         in equity by Rs   _

• Increase, 4.5 Cr
• Decrease, 0.5 Cr
• Increase, 0.5 Cr
• Decrease, 5 Cr

23. Who approves the financial statements of a company

• Auditors
• Shareholders
• Management
• Board of Directors

24. higher Debt-Equity ratio indicates

higf financial risk

25. accoWlting Standards are issued by which of the following entity, in India?

 

• ICAI
• SEBI
• RBi
• IFRS

26. If Net Profit is Rs 10000, Preference Dividend is Rs 2000 and Number of Shares are 600, calculate the EPS?

• 16.66
• 20
• 13.33
• None of the above

27. which of the following can be categorized as discretionary Expense

R & D expenses

28. Inwhich of the following statement, final balances of all the acco1tt1ts are prepared in the form of a list?

• Ledger
• Acco1tt1ting Equation
• Trial Balance
• Journal

29. Which of the following statement shows the financial position of a business entity as on date

• Income Statement
• Balance Sheet
• Trial Balance
• Cash Flow Statement

30. investing cash flow

 

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ECOC514 SET 1 DEC 2018

Assignment Test -1

 

1.Demand curve slopes downward due to

-income effect

-substitution effect

-diminishing marginal utility

-all of the above

 

2.An increase in the price of a good normally increases the

-demand for its substitutes

-supply of compliments

-purchasing power of consumer incomes

-purchasing power of consumer divide incomes

 

3.An isoquant is

-least cost combination

-a locus of input combination that give the same level of output

-a locus of input combination that give different level of output

-a locus of product combination that give the same level of satisfaction

 

4.If planned spending exceeds planned output, the result is

-a reduction in GDP

-unintended inventory increases

-unintended inventory reduction

-an  increase in government purchases

5.Production of an additional unit of output by the firm gives rise to

-Explicit cost

-implicit cost

-incremental cost

-marginal cost

 

6.If future price changes were perfectly anticipated by both borrowers and lenders ,what would happen to the real interest rate in the future if the price level changed?

-it would increase

-it would decrease

-it would not change

-it would decrease by the amount of the price increase

 

7.Negative cross-price elasticity of demand indicates that

-the product is an inferior good

-the product is a necessity

-the product is a luxury

-the two products are compliments

 

8.when the first stage of law of variable proportions begins to operate the TVC curve

-falls at an increasing rate

-rises at an increasing rate

-falls at a decreasing rate

-rises at a decreasing rate

 

9.In determining comparative advantage, cost is measured in terms of

-foreign currency

-opportunities forgone

-domestic currency

-gold only

 

10.in actability

-each country consumption possibilities are the same as its production possibilities

-equilibrium is attained with the maximum gains from specialization and trade

-equilibrium is attained with the maximum amount of international trade

-a nation is governed by an individual with absolute authority

 

11.if an imperfectly competitive firm is selling its 100^th unit of output for $35,its marginal revenue

-will be greater than $35

-will be less than $35

-will also be $35

-may be either greater or less than $35

 

12.the equation for calculation of  gross domestic product through expenditure approach is

-Y=C+I+G+(X-M)

-Y=C+I+G+(X+M)

-Y=C+I+G(X-M)

-Y=C+I+(X-M)

 

13.price discrimination refers to

-the differences between the prices a purely competitive seller and a purely monopolistic seller would charge

-the selling of a given product at different prices that do not reflect cost differences

-any price above that which is equal to minimum average total cost

-selling a given product for different prices at two different points in time

 

14.As a result of an increased deficit associated with discretionary fiscal policy

-both the interest rate and real output fall

-both the interest rate and nominal output rise

-the interest rate falls and real output rises

-the interest rate rises and real output falls

 

15.A consumer maximizes utility when the marginal utilities of all goods

-having positive money prices that are equal to zero

-are equal

-are maximized

-are exactly proportional to their market prices

 

16.when prices increases at a such speed that the value of money falls drastically is called as

-headline inflation

-core inflation

-hyperinflation

-stagflation

 

17.If the supply of a product increases, then

-more will be purchased at the same price

-the price of a product must have declined

-demand for the good must have increased

-producers offer less for sale at each possible price

 

18.The money demand curve describes how the quantity of money demanded varies with

-nominal GDP

-the interest rate

-real GDP

-the price level

 

19.A purely competitive firm is in short run equilibrium and its MC exceeds its AC.it can be conclude that

-firms will leave the industry in the long run

-the firm is realizing an economic profit

-the firm is realizing a loss

-this is an increasing cost industry

 

20.Which of the following will not increase when net taxes decrease ?

-saving

-disposable income

-consumption

-government expenditure

 

21.GDP price index is calculated by the formula

-Nominal GDP/Real GDP*100

-Real GDP /nominal GDP*100

-Nominal GDP/real GDP

-Real GDP /Nominal GDP

 

22.Cross elasticity between a battery and a car will be

-positive

-negative

-Unitary

-Zero

 

23.The firm is a price taker under

-perfect competition

-oligopoly

-monopolistic competition

-All of the above

 

24.Gross domestic product is

-the sum of money value of all intermediate goods and services produced with in the domestic territories of a country during an accounting year

-the aggregate final goods and services produced during an accounting year

The aggregate intermediate goods and services produced during an accounting year

-the sum of money value of all final goods and services produced with in the domestic territories of a country during an accounting year

 

25.Short run cost curves behaviour is explained by

-laws of returns

-economies of scale

-law of variable proportion

-law of increasing returns

 

26.If total revenue falls ,when price falls ,the demand of the product  will be

-elastic

-unitary elastic

-inelastic

-perfectly elastic

 

27.For a perfectly competitive firm the average revenue

-coincides with total revenue

-is lower than total revenue

-is equal to marginal revenue

-is higher than marginal revenue

 

28.In the long run, a monopolistic competitor

-incurs losses

-makes economic profit

-reaps normal profit

-any of the above

 

29.The percentage change in the demand for film divided by the percentage change in the price of cameras indicates

-the cross -price elasticity of demand between film and cameras

-the cross-price elasticity of demand for photographs

-the price elasticity of demand for film

-the price elasticity of demand for cameras

 

30.Marginal utility is defined as the

-average amount of satisfaction gained from consuming a product

-total amount of satisfaction gained from consuming a product

-additional satisfaction gained from consuming one more unit of a product

-total amount of satisfaction gained from consuming a product divided by the number of units consumed.

 

Assignmnet Test – 2

 

                                                          IMT                                       

                                        ECOC514  DECEMBER 2018

 

 

1.A government -imposed price above floor above the market price of milk would increase consumer expenditure on milk only if

-demand is elastic

-supply is inelastic

-demand falls

-demand is inelastic

 

2.the equilibrium interest rate is determined by

-both the supply of and demand for money

-demand for money

-supply of money

-reserve bank of india

 

3.Gross domestic product can be calculated by adding---------- in an accounting year

-adding income earned by all factor inputs

-expenditure approach

-adding output produced by all sectors

-any of these method

 

4.which of the following is true concerning the relationship between the marginal propensity to consume and the consumption function?

-the larger the MPC the higher the level of autonomous consumption

-the larger the MPC the steeper the consumption function

-the larger the MPC the larger the MPS

-the smaller the MPC the steeper the consumption function

 

5.If a pure monopolist is producing a level of output in excess of the MR=MC output

-it will be the interest of the firm and the society to reduce output

-it will be the interest of the firm and society to increase output

-it will be in the interest of the firm but not necessarily of society to reduce output

-the firm may or may not be maximizing profits

 

6.An arbitrageur in foreign exchange is a person who

-buys foreign currency, hopping to profit by selling it at a higher exchange rate of some later date

-earns illegal profit by manipulating foreign exchange

-causes differences in exchange rates in different geographic market

-simultaneously buys large amount of currency in one market and sells it in another market

 

7.If future price changes were perfectly anticipated by both borrowers and lenders, what would happen to the real interest rate in the future if the price level changed?

-it would increase

-it would decrease

-it would not change

-it would decrease by the amount of the price increase

 

8.A typical situation when stagnation and inflation coexist is called as an

-Disinflation

-Hyperinflation

-Stagnation

-Headline inflation

 

9.Point of tangency between isoquant and is cost denotes

-producer equilibrium

-least cost combination

-optical factor combination

-all of the above

 

 

10.price are measured in india by

-consumer price index

-wholesale price index

-consumer price index and wholesale price index

-None of these

 

11.When economist say that people act as rational decision makers, that means

-they gather all relevant information before making their purchases

-once a pattern of behaviour has been established  people tend to become set in their ways

-people respond in predictable ways to changes in costs and benefits

-people rarely make errors when they are permitted to make transactions

 

12.production of an additional units of output by the firm gives rise to

-Explicit cost

-implicit cost

-incremental cost

-marginal cost

 

13.A firm earns maximum profit when

-MC=MR

-MC=ATC

-Total revenue equals total cost

-TR is greater than TC by the larger amount

 

14.infaltuon rates differ in metropolitan regions MOSTLY because of

-differences in retail prices

-differences in housing prices

-transportation cost

-all of these

 

15.Marginal utility is defined as the

-Average amount of satisfaction gained from consuming a product

-total amount of satisfaction gained from consuming a product

-additional satisfaction gained from consuming more unit of a product

-total amount of satisfaction gained from consuming a product divided by the number of units consumed

 

16.In choosing between burger and shirts, consumer increase their purchases of each until

-the marginal utility from the last rupee spent on one is the same as on the another

-the marginal utility from the last rupee of burger is the same as from the last shirt

-the total utility from one is the same as from the other

-none of the above

 

17.A movement on the demand curve will take place when there is

-a change in own price of the product

-a change in price of a substitute

-a change in consumer preferences

-an increase in per capita income

 

18.A firm is in equilibrium when

-marginal revenue is equal to marginal cost

-marginal revenue is more than marginal cost

-marginal cost of the firm is rising

-both conditions 1 and 2 are fulfilled

 

19.the law of diminishing marginal utility states that

-the total utility falls continuously additional unit of a product

-the marginal utility falls continuously with consumption additional unit of a product

-the average utility falls continuously with consumption additional  unit of a product

-the marginal utility falls continuously with consumption total unit of a product

 

20.An increase in the money supply leads to a(n)

-decline in interest rates ,an increase in investment and an increase in aggregate demand

-decline in interest rate a decrease in investment and an increase in aggregate demand

-decline in interest rate an increase in investment and a decline in aggregate demand

-increase in interest rate an increase in investment and an increase in aggregate demand

 

21.If the economy experiences a contractionary gap and the RBI stimulates the economy

-The money supply is decreasing because the RBI makes open market sales

-The money supply is increasing because the RBI makes open market purchases

-The money supply is increasing because the RBI prints more money

-The money supply is decreasing because the RBI hoards money

 

22.when prices increase at a such speed that the value of money falls drastically is called as

-Headline inflation

-Core inflation

-Hyperinflation

-Stagflation

 

23.If marginal product of labour is lesser than average product of labour then average product of labour is

-Constant

-Decreasing

-Increasing

-Maximum

 

24.Cartel is

-a form of overt collusion

-a form of tacit collusion

-used to explain price rigidity

-non collusive oligopoly

 

25.To close a contractionary gap using fiscal policy, the government can

-Increase government spending by the size of the gap

-decrease government spending by the size of the gap

-increase government spending by less than the size of the gap

-decrease government spending by more than the size of the gap

 

26.The firm is a price taker under

-Perfect competition

-Oligopoly

-monopolistic competition

-all of these

 

27.Demand curve slopes downward due to

-income effect

-substitution effect

-diminishing marginal utility

-all of the above

28.Demand pull inflation is due to

-increase in money supply

-increase in purchasing power

-increasing in income with the population

-all of these

 

29.which of the following will not increase when net taxes decrease?

-saving

-disposable income

-consumption

-government expenditure

 

30.Total fixed cost includes cost of

-plant and machinery

-plant and machinery and depreciation cost of plant

-routine maintenance of plant

-plant and machinery and routine maintenance of 

 

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