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Question 1:
(a) Using examples, explain the difference between time-series, cross-sectional, and panel data.
(b) Formulate a simple linear equation, and carefully explain the following terms:
(i) Explanatory variable (ii) Dependent variable (iii) R-square (iv) P-value
(c) Briefly explain the assumptions underlying the Classical Regression Model.
Question 2:
(a) Explain the term heteroscedasticity, emphasising on the problems that it represents for Ordinary Least Square (OLS) estimation techniques.
(b) Explain how the Generalised Least Square (GLS) can be used to correct for the problem of heteroscedasticity.
Assuming the Heckscher-Ohlin model is true. Suppose the Cuba and Russia sign a free trade agreement. Furthermore, assume the Cuba and Russia only produce cigars and vodka. Russia h
Ask questioThe difference between the present value of cash inflows and the present value of cash outflows over a period of time is termed as Net Present Value. This is used for th
Determine whether the ff is counted as part of gdp which of the ff statement are included or excluded 1.1A monthly cheque received by an economic stu
LINKAGES OF BUREAUCRACY WITH THE KNOWLEDGE CENTRES: The Government employees must make use of knowledge generated in higher seats of learning for implementing economic policie
types of cost
Economies of scale are advantages obtained from a company becoming large and diseconomies of scale are additional costs inflicted because a firm has become very large. The causes
Neoliberalism So much thinking about the proper role of government in economic growth over the past 2 decades has tends to conclusions which are today known as neo-liberal. The
Dumping In the international marketing, when an organization charges less for goods than it real cost or less than the organizations charges in its home market. This procedure
using demand and supply curves explain how shortage and surplus are created
DEMOGRAPHIC PROFILE: A demographic profile of India can be prepared out of the data collected by the office of the Registrar General of India who is the responsible authority
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