3 Questions
Which of the following best describes simultaneous equations models?
Statistical models with dependent variables as functions of other dependent variables
Simultaneity poses challenges for the estimation of statistical parameters because it violates which assumption?
Gauss-Markov assumption of strict exogeneity
Is it possible for producers to set the price based on the quantity demanded by consumers?
Yes, it is possible
Test your knowledge of simultaneous equations models and their application in economics with this quiz. Explore how dependent variables are interrelated and learn about the underlying equilibrium mechanisms.
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