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Econometrics Exam 1 Questions fully solved & updated
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Econometrics Exam 1 Questions fully solved & updated
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Econometrics Exam 1 Questions fully solved & updatedEconometrics is the branch of economics that _____.
a. studies the behavior of individual economic agents in making economic decisions
b. develops and uses statistical methods for estimating economic relationships
c. deals with the performance, structure, behavior, and decision-making of an economy as a whole
d. applies mathematical methods to represent economic theories and solve economic problems. - answer b Nonexperimental data is called _____. a. cross-sectional data
b. time series data
c. observational data
d. panel data - answer c
Which of the following is true of experimental data?
a. Experimental data are collected in laboratory environments in the natural sciences.
b. Experimental data cannot be collected in a controlled environment.
c. Experimental data is sometimes called observational data.
d. Experimental data is sometimes called retrospective data. - answer a
An empirical analysis relies on _____to test a theory.
a. common sense
b. ethical considerations
c. data
d. customs and conventions - answer c
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