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(a) What is meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence?
(b) Explain in details the Generalised least Square procedure that can be used to correct the problem of heteroscedasticity and propose other alternative solutions?
(c) Explain and show graphically what autocorrelation means, what are the consequences of ignoring it and how can the application of the Durbin-Watson test helps in detecting it?
Problem 1: i) Differentiate between the short and the long run. ii) How is production characterised the short run? Explain the fully using numerical and diagrammatic illustr
INTERNATIONAL MONETARY FUND: The important objectives before the Fund presently are as follows: • To promote international cooperation; • To facilitate the expansion and ba
how to calculate it given a functuion
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Question 1: The price of the good X rises from $1.30 to $1.40. Calculate the price elasticity of demand by using the mid-point method. Question 2: How do you explain the answer
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show the shape of f orbitals?
THERE IS PRESSURE ON THE CENTRAL BANK TO INCREASE MONEY SUPPLY WHAT WOULD BE THE EFFECT ON THE MACROECONOMIC VARIABLE
Capital: Broadly defined, capital represents tools that people use when they work, to make their work more efficient andproductive. Under capitalism, capital can also refer to a su
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
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