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Critically evaluate the following statements:
a. "In fact, multicollinearity is not a modeling error. It is a condition of de?cient data."*
b. "If it is not feasible to obtain more data, then one must accept the fact that the data one has contain a limited amount of information and must simplify the model accordingly. Trying to estimate models that are too complicated is one of the most common mistakes among in- experienced applied econometricians."
c. "It is common for researchers to claim that multicollinearity is at work whenever their hypothesized signs are not found in the regres- sion results, when variables that they know a priori to be important have insigni?cant t values, or when various regression results are changed substantively whenever an explanatory variable is deleted. Unfortunately, none of these conditions is either necessary or suf?- cient for the existence of collinearity, and furthermore none provides any useful suggestions as to what kind of extra information might be required to solve the estimation problem they present."‡
d. ". . . any time series regression containing more than four indepen- dent variables results in garbage."*
if governments know that increases in the money supply lead to inflation why do some countries increase the money
Suppose both supply and demand decrease. What effect will this have on price and the government sets a price floor of $30 and agrees to purchase all surplus at $30 per unit
Assume that the Fed decided engages in an open market purchase of $100 million dollars. If the required reserve ratio is 10%, and if banks hold an additional 2% of their assets in bonds, calculate the total change in the money supply.
You are interviewing three candidates for one sales job position. On the basis of your experience and insight, you believe Jane can sell 600 units a day, Joe can sell 450 units a day, and Joan can sell 400 units a day. The daily salary each person is..
suppose a country that did not trade with the united states opened its boarders and purchased 100000000 worth of goods.
What population would you choose your sample from? Can that method alone give you a value that accounts for all the impacts of the disaster?
These multiple choice problems belong to Economics. The first problem is about calculating the profit of a firm in the short run and the second problem is about firm experiencing economies to scale.
A local finance company will loan $10000 to a homeowner. It is to be repaid in 24 monthly payments of $499 each. The first payment is due 30 days after the $10000 is received. What interest rate per month are they charging?
news analysis. analyze a news from a global newspaper financial times newsweek or a similar one delivering a report
Suppose a single firm produces all of the output in a contestable market. The market inverse demand function is P = 350 -5Q, and the firm’s cost function is C(Q) = 8Q. Determine the firm’s equilibrium price and corresponding profits.
explain the differentiating characteristics of public and private goodslist any five private goodsbread cinemas
Consider the following model of economic growth:Yt=AtLyt(1) Δ At=z‾AtLt(2) L‾=Lyt+Lat(3) Lat=l‾L‾(4) If A 0 =100 , l ‾ =0.1 , z ‾ =1/3000 , and L ‾ =1,000 , what is the growth rate of knowledge in this economy?
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