NU Week Four Final Exam One Latest 2022

Question 1 For a monopoly in equilibrium:

Question 1 options:

 MR = MC

 MC ≤ AC

 MR ≤ AR

 P ≥ AC

Question 2 A monopsony is a market with:

Question 2 options:

 many sellers

 one buyer

 many buyers

 one seller

Question 3 Generally speaking, population parameters are not known and must be estimated by the sample

Question 3 options:

 mean

 mode

 median

 statistics

Question 4 A multiple regression model involves two or more

Question 4 options:

 Y variables

 X variables

 intercept terms

 data points

Question 5 The standard deviation of the dependent Y variable after controlling for all X variables is the

Question 5 options:

 correlation coefficient

 coefficient of determination

 F statistic

 standard error of the estimate

Question 6 In a uniform distribution, the mode

Question 6 options:

 equals the median

 is less than the mean

 is less than the median

 is greater than the mean

Question 7 Incorrect rejection of a true hypothesis is called

Question 7 options:

 type I error

 type II error

 z statistic error

 t statistic error

Question 8 In a simple regression model, the correlation coefficient is

Question 8 options:

 greater than one

 less than one

 equal to one

 the square root of the coefficient of determination

Question 9 A roughly coincident indicator of business cycle peaks is given by

Question 9 options:

 new orders for consumer goods and materials

 the rate of change in sensitive materials prices

 the rate of change in stock prices

 personal income minus transfer payments

Question 10 A forecast method based on the informed opinion of several individuals is called

Question 10 options:

 personal insight

 panel consensus

 the Delphi method

 qualitative analysis

Question 11 A rhythmic annual pattern in sales or profits is called

Question 11 options:

 cyclical fluctuation

 secular trend

 trend analysis

 seasonal variation

Question 12 Lagging economic indicators include

Question 12 options:

 personal income

 the change in stock prices

 orders for new plant and equipment

 the average duration of unemployment

Question 13 The Delphi method

Question 13 options:

 employs interaction among experts in the hope that resulting forecasts embody all

available objective and subjective information

 can be influenced by the forceful personality of one or a few key experts

 employs an independent party to elicit a consensus opinion

 assumes that several experts arrive at forecasts that are inferior to those that

individuals generate

Question 14 A secular trend is the

Question 14 options:

 annual pattern in sales or profits caused by weather, habit, or social custom

 predictable shock to the pace of economic activity caused by wars, strikes, natural catastrophes, and so on

 long-run pattern of increase or decrease in a series of economic data

 rhythmic variation in economic series that is due to expansion or contraction in the overall economy

Question 15 The forecasting method that can be used when market data is unavailable

Question 15 options:

 time-series analysis

 regression analysis

 input-output analysis

 qualitative analysis