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1 | |
Data are important in economics because __________ and __________
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| | A) | they suggest relationships for explanation, allow testing of hypotheses
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| | B) | they can be used for tables, they can be graphed
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| | C) | they can be used in computers, governments use them
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| | D) | they provide interesting information, can be summarised
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2 | |
Time series data show information
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| | A) | about the same point in time over different places
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| | B) | about different points in time over the same variable
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| | C) | about different variables over different places
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| | D) | about different points in time over different places
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3 | |
The retail price index is used to ______________
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| | A) | construct price lists
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| | B) | compare shop prices
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| | C) | measure changes in the cost of living
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| | D) | none of the above
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4 | |
A real value can be derived from a nominal value by
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| | A) | adjusting for changes over time
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| | B) | adjusting for data collection errors
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| | C) | adjusting for population changes
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| | D) | adjusting for changes in prices
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5 | |
If your income during one year is £10,000 and the following year it is £12,000, then it has grown by
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| | A) | 20%
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| | B) | 2%
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| | C) | 12%
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| | D) | 16%
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6 | |
A straight-line diagram can be drawn knowing the ______ and _________
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| | A) | vertical axis and horizontal axis
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| | B) | intercept and slope
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| | C) | scale and slope
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| | D) | intercept and scale
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7 | |
On a graph, a positive linear relationship
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| | A) | moves down to the right
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| | B) | moves up to the left
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| | C) | moves up to the right
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| | D) | moves down to the left
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8 | |
If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale, this is an example of _____________
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| | A) | a nonlinear relationship
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| | B) | a positive linear relationship
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| | C) | a scatter diagram
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| | D) | a negative linear relationship
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9 | |
An economic model is a physical representation of an economy
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| | A) | TRUE
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| | B) | FALSE
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10 | |
Index numbers express base data in relation to some relative value
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| | A) | TRUE
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| | B) | FALSE
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11 | |
To find the percentage change in a number, divide the absolute change by the original number and multiply by 100
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| | A) | TRUE
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| | B) | FALSE
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12 | |
Econometrics samples Economists' beliefs to investigate economic behaviour
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| | A) | TRUE
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| | B) | FALSE
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2002 A McGraw-Hill Online Learning Centre