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Econometrics Final Exam Prep UPDATED ACTUAL Questions and CORRECT Answers
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Econometrics Final Exam Prep UPDATED ACTUAL Questions and CORRECT Answers 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 ANSWER- d.

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  • October 28, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Econometrics
  • Econometrics

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Econometrics Final Exam Prep UPDATED
ACTUAL Questions and CORRECT
Answers
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 ANSWER✔✔- 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 ANSWER✔✔- 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
ANSWER✔✔- 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 ANSWER✔✔- b. False


The notion of ceteris paribus means "other factors being equal."

a. True b. False - CORRECT ANSWER✔✔- a. True


A dependent variable is also known as a(n) _____.
a.
predictor variable
b.
explanatory variable
c.
response variable
d.

control variable - CORRECT ANSWER✔✔- c.
response variable


In the equation , what is the estimated value of ?
a.

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