Scribd
Upload
43 views7 pages

Linear Algebra Exam

This document is a final examination for a Linear Algebra course at Oda Bultum University, focusing on applications in economics. It includes various types of questions such as true/false, multiple choice, matching, fill-in-the-blank, and short answer, covering topics like the Leontief model and linear programming. The exam is designed to assess students' understanding of linear algebra concepts as they relate to economic models and decision-making.

Uploaded by

Mahmud Abdurohman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
43 views7 pages

Linear Algebra Exam

This document is a final examination for a Linear Algebra course at Oda Bultum University, focusing on applications in economics. It includes various types of questions such as true/false, multiple choice, matching, fill-in-the-blank, and short answer, covering topics like the Leontief model and linear programming. The exam is designed to assess students' understanding of linear algebra concepts as they relate to economic models and decision-making.

Uploaded by

Mahmud Abdurohman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 7

Oda Bultum University

College of Business & Economics

Department of Economics

Final Examination to Linear Algebra for Economists (Econ 1022)

Instructor: Date: 21/10/2017

Sudent Information

Name:.............................................................. ID No.:...............

Admission Classification: Weekend Center: Hirna

General Instructions

Read the instructions carefully.

Switch off your mobile.

Use pocket calculator for your computations.

Cheating or an attempt to cheating will nullify your results.

Write your answer to the answer sheet only.

Good Luck!
Instruction I: Say "True" if the statement is correct and "False" if the
statement is incorrect (1.5 points each).

1. The sum of the column entries of the technology matrix is less than 1 in closed model
of Leontief.

2. Linear programming summarizes the flows of inputs and outputs in an economy in


the form of input-output table.

3. A Jacobian determinant is special type of matrix that is used to test functional


dependency between systems of linear equations.

4. Leontief model is used for the analysis of optimum decisions subjected to certain
constraints in the form of linear inequalities.

Instruction II: Choose the best answer from the given alternatives (2
points each).

Given the the function f= 50X+10Y is subjected to

3X +Y ≥15

X+2Y ≥10

X≥ 0, Y≥ 0

Then, answer questions 5 to 10 based on the above information.

5.The objective function is

A. 50X+10Y B. 3X +Y ≥15 C. X+2Y ≥10 D. B & C E. None

6.The constraint function is/are

A. 3X +Y ≥15 B. 50X+10Y C. X+2Y ≥10 D. A & C E. None

7. The non-negativity assumptions are/is


A. Y ≤ 0 B. X+2Y ≥10 C. X ≤ 0 D. A & C E. None

8. Which of the following is not a feasible solution?


A (0,15) B. (0,5) C (5,0) D. (4,3) E. None
9.The maximum value of the objective function is
A.230 B. 500 C.150 D.50 E. None
10. The optimum solution is
A. (0,15) B. (0,5) C. (5,0) D. (4,3) E. None
11. Which of the technology matrix represents closed model?

A. 0.03 0.05 0.07 B. 0.34 0.60 0.32 C. 0.22 0.23 0.44 D. All E. None

0.12 0.21 0.31 0.12 0.22 0.33 0.41 0.45 0.23

0.51 0.43 0.51 0.43 0.01 0.20 0.37 0.32 0.33

Instruction III. Match the following from column A to B. (2 points


each)

12. Equations that has no solutions A. Consistent & dependent equations

13. Equations that has exactly one solution B. inconsistent & independent equations

14. Equations that has many solutions C. Consistent & independent equations

D. Inconsistent equations

E. Inonsistent & dependent equations

Instruction IV: Fill the following blank spaces with the appropriate
words or phrases (2 points each).

15. ................. is a study of systems of linear equations and attempts to find a


simultaneous solution for the unknowns of those equations if such a solution exists
whereas ............... permits expressions of complicated systems of linear equations in a
simplified way and a means of solving the equation system.

16. ................. is an iterative algorithm to obtain the best possible solution when the
problem to be solved has more than two unknown variables whereas ........... is an
geometrical approach to obtain the best possible solution when the problem to be
solved has exactly two unknown variables.

17. ................... is a solution for which the objetive function is maximum or minimum
whereas ...................... is solution for which the constraint functions are satisfied.

Instruction V: Give a short and precise answer to the following


questions (2 points each).

18. Define the following terms:

a) Closed Leontief model

b) Open model Leontief

19. Why we use linear programming in economics?

Instruction VI: Find the answer to the following questions by showing


each step appropriately.

20. Mohammed consumes two commodities X & Y. His utility function is given by

U =60X+20Y

subjected to

5X+2Y ≤ 50

2X+4Y ≤ 60

X≥ 0, Y≥ 0

Using Graphical Method, find :

a) The quantity of each commodity he consumes to maximize his utility. ( 5 points)

b) His maximum utility. (5 points)

21. A manufacturer produces goods A and B. Each product is first processed in


machine 1 (M1) and then, sent to another machine 2 (M 2) for finishing. Each unit of A
requires 3 minutes time in M1 and 5 minutes in M2 whereas each unit of B requires 2
minutes time in M1 and 4 minutes in M2, The total time available on machine A is 6 & B
is 8 in minutes. Calculate the number of units of products A & B to be produced by the
manufacturer using Cramer's Rule. ( 6 points)
( Hint: Machine 1: 3A + 2B = 6 & Machine 2: 5A + 4B =8)

END OF THE EXAM!

Answer Sheet
Part I

1.

2.

3.

4.

Part II

5.

6.

7.

8.

9.

10.

11.
Part III

12.

13.

14.

Part IV

15. a)

b)

16. a)

b)

17. a)

b)

Part V & Part VI

You might also like