PPSC Economics Topic 13 Mathematics in Economics With Answers

PPSC Economics Topic 13 Mathematics in Economics

Sr. # Questions Answers Choice
1 The slope of a horizontal line is. One Zero Three two
2 An equation in which all variables are raised to the first power is known as. Linear equation Non linear equation Quadratic equation Polynomial of degree two
3 A mathematical statement setting two algebraic expressions equal to each other is called. Equations Hypothesis Inequality All of above
4 The determinant of quadratic form is called. Jacobian determinant Hessian determinant Discriminant None of these
5 A negative definite Hessian fulfills the second order conditions for. Maximum Minimum both maximum and minimum Mini max
6 A positive definite Hessian fulfills the second order conditions for Maximum Minimum Both maximum and minimum Mini max
7 A determinant compose of all the second order partial derivatives, with the second order direct partials on the principal diagonal and the second order cross partials off the principal diagonal and which is used to second order condition of optimization is called. Jacobian determinant Hessian determinant Discriminant None of these
8 A determinant composed of all the first order partial derivatives of a system of equations, arranged in ordered sequence is called. Hassian determinatn Jacobian determiant Discrimianant First order determinant
9 If a consumer's budget constraint is given as P, X,+ Py Y = B thent he absolute slope of the budget line is. B x/y P/Py None of these
10 a possible use in encomia's for the circle or the ellipse is to model. Production possibility curve Demand cuve Isocost liine Supply curve
11 A possible use in economies for the circle of the ellipse is to model. Production possibility curve Demand curve Iosco line Supply curve
12 The simplest form of rectangular hyperbola is y = 1/x y = x2 y = x-2 y = x3
13 A polynomial equation with degree two a called. Linear equation Quadratic equation Parabola equation All of the above
14 a x2 + bx + c = 0 Linear equation Quadratic equation Polynomial of degree five None of these
15 The equilibrium price and quantity , given the inverse demand and supply functions.
po = 3q +30 and p s = 2q -5
 p = 9 and q = 7 p = 10 and q = 7 p = 9 and q = 8 p = 7 and q = 9
16 Given the demand function qo = -8p +2000 and tis inverse p = -1/8 qo + 250 ,p in the inverse function which is interpreted as the maximum price that buyers are willing to pay for the. Supply price Demand price Equilibrium price Reserved price
17 Given the demand and supply cautions qo = -8p + 2000 and qs = 12 p - 200 respectively the equilibrium price. p = 100 p = 110 p = 120 p = 140
18 if we are told that the two statements y = 3x2 and y = x + 10' are bout true at the same time , they are called. Implicit functions explicit functions Simultaneous equations Quadratic equations
19 A linear function of the form 6x2 - 2y + 8 = 0 is known as. Explicit function implicit function Quadratic function All of the above
20 The point at which the graph cuts the x axis is called. x- intercept y - intercept slope None of these
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