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1. What are the two roles that prices play in a competitive economy? How are these two roles related to the Fundamental Theorems of Welfare Economics?
2. The Undercover Economist. It is on reserve in the Reserve Reading Room in the Library for Econ 357(01). Provide a summary, based on the analogy in this chapter, for Arrow's [Second Fundamental Theorem of Welfare Economics] resolution of the trade off between efficiency and fairness.
3. Explain the relationship betweenWalras' Law, the use of a numeraire good, and why only relative prices matter.
I am trying to apply weighted least squares but Im not getting a very good fit when I regress the residuals on the variables so I don''t think the weights will be very good
(a) Explain what is meant by the term regression. (b) Describe the justification for the inclusion of a disturbance term in a regression analysis. (c) With appropriate exa
Consider an equation to explain salaries of CEOs in terms of annual firm sales, return on equity (ROE, in percent form), and return on the firm's stock (ROS, in percent form): L
Can you explain the basic introduction of this methodology?
when is an econometric model said to be simple and naive
Explain the stages and various coordination mechanisms involved in policy processes. Discuss various factors that influenced the agenda setting in policy processes
how to regress
Problem: a) In what circumstances would you apply switching models? b) Using dummy variables for seasonality show how you would test for January effects in financial data?
analyze the trend of time series using semi-average method, method of least square regression and moving average method
You have collected data for 104 countries to address the difficult questions of the determinants for differences in the standard of living among the countries of the world. You rec
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