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Principles of Econometrics Quiz
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Principles of Econometrics Quiz

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Questions and Answers

Which of the following is NOT generally included in the study of econometrics?

  • Testing economic hypotheses
  • Predicting economic outcomes
  • Developing new economic relationships (correct)
  • Using economic data to estimate relationships

    • Consider the following model: $Qd = f(P, Ps, Pc, INC)$. This equation represents:

  • A non-linear model
  • An econometric model
  • A challenge to the law of demand
  • An economic model (correct)

    • Economic theory provides a basis for which variable in the model $Qd = f(P, Ps, Pc, INC)$?

  • Monthly income
  • Quantity demanded (correct)
  • Price of substitutes
  • Price of complements

    • In the context of econometrics, what does the term 'Pc' represent in the model $Qd = f(P, Ps, Pc, INC)$?

    <p>Price of complements</p> Signup and view all the answers

    Which aspect is NOT typically addressed in the study of econometrics?

    <p>Developing new economic theories</p> Signup and view all the answers

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