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Exit Exam Model

The document contains 7 multiple choice questions from 3 sections: Microeconomics, Crop Value Chain Management, and Econometrics. The questions test fundamental concepts in these areas. In Microeconomics, questions assess understanding of the law of demand, price elasticity, indifference curves, costs, and market structures. Crop Value Chain Management questions focus on value chain activities, actors, constraints, and value addition. Finally, the Econometrics questions cover topics such as the definition and purpose of econometrics, the error term, explained variation, binary variables, heteroscedasticity, and appropriate statistical techniques for mixed variable models.

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4K views

Exit Exam Model

The document contains 7 multiple choice questions from 3 sections: Microeconomics, Crop Value Chain Management, and Econometrics. The questions test fundamental concepts in these areas. In Microeconomics, questions assess understanding of the law of demand, price elasticity, indifference curves, costs, and market structures. Crop Value Chain Management questions focus on value chain activities, actors, constraints, and value addition. Finally, the Econometrics questions cover topics such as the definition and purpose of econometrics, the error term, explained variation, binary variables, heteroscedasticity, and appropriate statistical techniques for mixed variable models.

Uploaded by

Lemma Deme Researcher
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Exit Exam Model Question

I. Microeconomics
1. The Law of Demand, assuming other things to remain constant, establishes the relationship
between:

A. income of the consumer and the quantity of a good demanded by him

B. price of a good and the quantity demanded.

C. price of a good and the demand for its substitute

D. quantity demanded of a good and the relative prices of its complementary goods.

2. A small change in price causes a proportionately larger change in the quantity demanded refers to
A. Elastic (PεD >1) B. Inelastic (PεD<1) C. Unit elastic (PεD= 1) D. All
3. An indifference curve must be ______to the origin.
A. Concave B. Convex C. Straight D. Kinked
4. If the total cost of producing 20 units of output is $1,000 and the average variable cost is $35,
what is the firm's average fixed cost at that level of output?
A. $65 B. $50 C. $15 D. $ 28.57
5. In the short run, if marginal product is at its maximum, then
A. average cost is at its minimum. C. Marginal cost is at its minimum.
B. Average variable cost is at its minimum. D. Total cost is at its maximum
6. In monopolistic competition, the products of different sellers are
A) Similar but slightly different C) Perfect substitutes
B) Unique without any close or perfect substitutes. D) Identical
7. Under which of the following forms of market structure does a firm have no control over the
price of its product?
A. Oligopoly Market C monopolistic competitive market
B. Monopoly Market D. perfect Competitive Market
II. Cropp Value Chain Management

1. What are the five primary activities of the value chain model?
A. Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and
Technology Development
B. Inbound logistics, Operations, Outbound Logistics, Marketing and Sales, and Service
C. Inbound logistics, Operations, Outbound Logistics, Compound logistics, and Service
D. Inbound logistics, Operations, Infrastructure, Human Resource Management, and

2. One of the following is not significance of value chain analysis


A. It evaluates the value each particular activity
B. It is the base for value chain improvement
C. It identifies constraints and opportunities for the provision of financial services
D. It retards improved understanding of competitive challenges
3. Which one of the following crop value chain actors is named as mobile traders?
A. Retailers B. Wholesaler C. Local Collectors D. Processors
4. ------------------------is reduces in cost of a country's exports, rendering them more competitive
in the global market, which, in turn, increases the cost of imports.
A. Devaluation B. Inflation C. Exchange rate D. Rescission

5. The process of supplementing worth to a raw product by taking it to at least the next stage of
production is referred to us---------------
A. Exchange rate B. Transportation C. Transformation D. Value addition

6. The organic substance obtained from dead plants and animal wastes is
A. Manure C. DAP
B. Fertilizer D. Urea
7. Which of the following are NOT key constraints of the food processing industry?
A. Inadequate quality control C. Low demand
B. high packaging cost D. Poor infrastructure as in no cold storage, warehouse

III. Econometrics
1. Econometrics is a branch of economics that --------------------------

A. Studies the Behaviour of individual economic agent in making economic decision

B. Develops and uses statistical methods for estimating economic relationship

C. Deals with the performance, structure, behavior and decision making of the economy as
whole

D. Applies Mathematical methods to represent economic theories and solve economic problems
2. The term ‘u’ in econometrics usually referred to as the -------------

A. Error term B. parameter C. Dependent variable D. Hypothesis

3. E (ui | Xi) = 0 says that

A. The sample mean of the Xs is much larger than the sample mean of the errors.

B. Dividing the error by the explanatory variable results in a zero (on average).

C. The sample regression function residuals are unrelated to the explanatory variable.

D. The conditional distribution of the error given the explanatory variable has a zero mean.

4. Which of the following is equal to explained variation divided by total variation?

A. Coefficient of determination

B. Sum of squares due to regression

C) Standard error of the correlation

D) Coefficient of correlation

5) Binary variables refers to those variables that

A) Exclude certain individuals from your sample.

B) Are generally used to control for outliers in your sample.

C) Can take on only two values.

D) Can take on more than two values.

6. What is the meaning of the term Heteroscedasticty?

A. The variance of the errors is not constant

B. The variance of the dependent variable is not constant


C. The errors are not linearly independent of one another

D. The errors have non-zero mean

7. When there are both qualitative and quantitative variables are there in the model

A. ANOVA B. ANCOVA C. Chi-square D. All of the above

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