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Question - Consider a population regression model with no intercept term, or Y = βX + U, and assume E[XU] = 0. Assume also that X and U both have positive, finite variances, and suppose you have an i.i.d. sample of data generated by this model, {yn, xn}n=1N.
(a) Derive an expression for the population slope parameter, β, using the exogeneity assumption above.
(b) Propose an estimator based on the analogy principle, call it β^A.
(c) Derive the Ordinary Least Squares estimator, β^OLS.
What is the current and projected unemploment. The company is Hershey moves to China for its operations. what is the current and projected unemployment over the next 5 years.
Compute the long-run impact of a permanent rise in money supply versus a permanent tax cut.
Is it true that in a short run production process, the marginal cost curve eventually slopes upward because firms have to pay workers a higher wage rate as they produce more output?Explain your answer.
How do you solve a system of linear equations by substitution? Give an example and explain. How do you solve a system of linear equation by elimination? Given an example and explain.
He is concerned that this may lead to a problem if he ever has a loss as the insurer could deny coverage on the grounds that they didnt know certain crucial facts. What would you advise Sam?
The government recently increased the child benefit. This benefit sends cash to households with children regardless of how much they work. This benefit will make households who receive it better off and have no effect on labour supply. True or fal..
Define both free and restricted trade. What do you feel are the benefits and the cost to having free trade? What are the benefits and cost to having restricted trade?
Elucidate what level of visits will the maximum profit position be. Elucidate what are the profits at this level.
Which of the following features is needed to make bundling a possible price discrimination strategy but is not required for any other price discrimination strategies?The firm does not learn about customer demand until after purchase.
This problem is inspired by a study of the "gender gap" in earnings in top corporate jobs [Bertrand and Hallock (2001)]. The study compares total compensation among top executives in a large set of U.S. public corpora-tions in the 1990s.
A country which does not tax cigarettes is considering the introduction of a $0.40 per pack tax. The economic advisors to the country estimate the supply and demand curves for cigarettes as:
Suppose the marginal costs of reading are consatnt and the marginal benefits of reading decline(over time). Initially, the marginal benefits of reading are greater than the marginal costs. draw the marginal benefit curve and marginal cost cuve of ..
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