(1) Introduction to Econometrics EXAM QUESTIONS AND ANSWERS 100% CORRECT!
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Course
Introduction to Econometrics EXA
Institution
Introduction To Econometrics EXA
What is MPC mean? what does it measure? - ANSWER Marginal propensity to consume
The change in consumption per unit change in income
If we can't find evidence against a particular model, what can we conclude about the model? - ANSWER We can say that the model conforms to the available facts, a...
, (1) Introduction to Econometrics EXAM
QUESTIONS AND ANSWERS 100%
CORRECT!
What does econometrics mean? How is it measured? - ANSWER Measurement in
economics
Statistical and mathematical analysis of data to give empirical content to theories and
verifying or refuting them.
What is MPC mean? what does it measure? - ANSWER Marginal propensity to
consume
The change in consumption per unit change in income
If we can't find evidence against a particular model, what can we conclude about the
model? - ANSWER We can say that the model conforms to the available facts, and can
be used in economic forecasting.
If we can find evidence against a particular model, what can we conclude about the
model? - ANSWER We can say that the model does not conform to reality, and
economic theory based on this model should be discarded or modified.
What do experimenters describe randomised exogenous built testing as? Why? -
ANSWER The gold standard, as they best describe a causal inference
What are the 4 steps in empirical analysis? - ANSWER 1. A precise posed question
2. Specifying an economic model
3. Turn the economic model into econometric model
4. Collect data, use stat methods to estimate parameters, construct confidence intervals
and test hypothesis
What does econometrics provide with regard to economic models and economic data? -
ANSWER It provides the framework for confronting economic models with economic
data.
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