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Which of the following sentences best describes the purpose and design of XML?

XML is intended to provide a flexible way of defining structuring data

XML is faster and more efficient than JSON

XML was designed especially for creating web pages

XML is a programming language like Java

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The immediate effect of a per-unit tax on producers is:

An upward shift in the supply curve

A downward shift in the demand curve

No change in equilibrium price and quantity

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Which of the following is the correct derivative using implicit differentiation for xy=10?

y + x dx/dy = 10

x + y dy/dx = 0

y + x dx/dy = 0

x + y dy/dx = 10

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Law of returns to scale indicate that for this law to operate, factor proportions must be ________ at same level.

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Which of the following is true about the Hessian matrix of a function f(x,y)?

It is always invertible

It is always diagonal

Its determinant is always positive

It is always symmetric

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The labor demand curve is derived from which of the following?

The utility function

The production function

The budget constraint

The cost function

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Let B(x,y) be the profit function of a firm which produces two output goods in quantities x and y. If (a,b) is a stationary point of the function B(x,y), for it to be a global maximum point it must occur that:

The profit function is concave in a neighbourhood of the point (a,b)

The profit function is concave for all (x,y) in R2

The profit function is convex for all (x,y) in R2

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The Envelope Theorem helps to simplify.

Evaluating the effect of a parameter on an optimized function without fully resolving the problem.

Identifying multiple local optima.

Finding the first order conditions in optimization problems

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Roy’s identity is used to find the _______ demand function using the _______ utility function.

Uncompensated, indirect

Compensated, indirect

Hicksian, direct

Marshallian, direct

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If u, v, w are not independent functions of independent variables x, y, z then

∂(x,y,z)/ ∂(u,v,w) = 0

∂(u,v,w)/ ∂(x,y,z) = 0

∂(x,y,z)/ ∂(u,v,w) = 1

∂(u,v,w)/ ∂(x,y,z) = 1

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