Econometrics Final Exam Prep || with A+ Guaranteed Solutions.
5 views 0 purchase
Course
Econometrics
Institution
Econometrics
Which of the following is the first step in empirical economic analysis?
a.
Collection of data
b.
Statement of hypotheses
c.
Testing of hypotheses
d.
Specification of an econometric model correct answers d.
Specification of an econometric model
Data on the income of law graduates collec...
Econometrics Final Exam Prep || with A+ Guaranteed
Solutions.
Which of the following is the first step in empirical economic analysis?
a.
Collection of data
b.
Statement of hypotheses
c.
Testing of hypotheses
d.
Specification of an econometric model correct answers d.
Specification of an econometric model
Data on the income of law graduates collected at different times during the same year is _____.
a.
time series data
b.
cross-sectional data
c.
panel data
d.
experimental data correct answers b.
cross-sectional data
Which of the following is an example of time series data?
a.
Data on the gross domestic product of a country over a period of 10 years.
b.
Data on the number of vacancies in various departments of an organization on a particular
month.
c.
Data on the consumption of wheat by 200 households during a year.
d.
Data on the unemployment rates in different parts of a country during a year. correct answers a.
Data on the gross domestic product of a country over a period of 10 years.
A cross-sectional data set consists of observations on a variable or several variables over time.
a. True b. False correct answers b. False
The notion of ceteris paribus means "other factors being equal."
a. True b. False correct answers a. True
A dependent variable is also known as a(n) _____.
a.
, predictor variable
b.
explanatory variable
c.
response variable
d.
control variable correct answers c.
response variable
In the equation , what is the estimated value of ?
a.
b.
c.
d. correct answers b
In the equation c=B+B11+u, c denotes consumption and i denotes income. What is the residual
for the 5th observation if c5=$500 and c hat5=$475?
a.
$300
b.
$975
c.
$25
d.
$50 correct answers c.
$25
Why do labor economists often find it difficult to estimate the ceteris paribus return to education,
in terms of wage, using non-experimental data?
a.
Wage is often reported unreliably and inaccurately.
b.
Experience, another factor that also affects wage, is generally difficult to measure.
c.
Education level in non-experimental data is probably dependent on other omitted factors that
also affect wage.
d.
In a non-experimental setting, education level is often difficult to measure. correct answers c.
Education level in non-experimental data is probably dependent on other omitted factors that
also affect wage.
question 10 correct answers
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
