Solutions and Test Bank For Introductory Econometrics: A Modern Approach 7th Edition By Jeffrey M. Wooldridge PDF

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Solutions Manual, eBook, Test Bank For Introductory Econometrics: A Modern Approach 7th Edition By Jeffrey M. Wooldridge ; 9781337671330 , 9781337671330 , 1337671339 , 1337671339 + APLIA, MINDTAP Assignments & Quizzes....

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Chap01_7e Indicatewhetherthestatementistrueorfalse. 1. Thenotionofceterisparibusmeans“otherfactorsbeingequal.” a. True b. False 2. Experimentaldataareeasytoobtaininthesocialsciences. a. True b. False 3. Aneconomicmodelconsistsofmathematicalequationsthatdescribevariousrelationshipsbetweeneconomic variables. a. True b. False 4. Randomsamplingcomplicatestheanalysisofcross-sectionaldata. a. True b. False 5. Atimeseriesdataisalsocalledalongitudinaldataset. a. True b. False 6. Across-sectionaldatasetconsistsofobservationsonavariableorseveralvariablesovertime. a. True b. False 7. Experimentaldataaresometimescalledretrospectivedata. a. True b. False Indicatetheanswerchoicethatbestcompletesthestatementoranswersthequestion. 8. Theconstantsofeconometricmodelsarereferredtoas_____. a. parameters b. statistics c. errorterms d. hypotheses 9. Whichofthefollowingistrue? a. Avariablehasacausaleffectonanothervariableifbothvariablesincreaseordecreasesimultaneously. b. Thenotionof‘ceterisparibus’playsanimportantroleincausalanalysis. c. Difficultyininferringcausalitydisappearswhenstudyingdataatfairlyhighlevelsofaggregation. d. Theproblemofinferringcausalityarisesifexperimentaldataisusedforanalysis.

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Chap01_7e 10.Whichofthefollowingisthefirststepinempiricaleconomicanalysis? a.Collectionofdata b.Statementofhypotheses c.Specificationofaneconometricmodel d.Testingofhypotheses 11.Whydolaboreconomistsoftenfinditdifficulttoestimatetheceterisparibusreturntoeducation,intermsof wage,usingnon-experimentaldata? a.Educationlevelinnon-experimentaldataisprobablydependentonotheromittedfactorsthatalsoaffect wage. b.Inanon-experimentalsetting,educationlevelisoftendifficulttomeasure. c.Wageisoftenreportedunreliablyandinaccurately. d.Experience,anotherfactorthatalsoaffectswage,isgenerallydifficulttomeasure. 12.Whichofthefollowingreferstopaneldata? a.Dataontheunemploymentrateinacountryovera5-yearperiod b.Dataonthebirthrate,deathrateandpopulationgrowthrateindevelopingcountriesovera10-yearperiod. c.Dataontheincomeof5membersofafamilyonaparticularyear. d.Dataonthepriceofacompany’sshareduringayear. 13.Adatasetthatconsistsofasampleofindividuals,households,firms,cities,states,countries,oravarietyofother units,takenatagivenpointintime,iscalleda(n)_____. a.cross-sectionaldataset b.longitudinaldataset c.timeseriesdataset d.experimentaldataset 14.Whichofthefollowingtermsmeasurestheassociationbetweentwovariables? a.Casualeffect b.Independence c.Average d.Correlation 15.Adatasetthatconsistsofobservationsonavariableorseveralvariablesovertimeiscalleda_____dataset. a.binary b.cross-sectional c.timeseries d.experimental

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Chap01_7e 16.Theterm‘u’inaneconometricmodelisusuallyreferredtoasthe_____. a.errorterm b.parameter c.hypothesis d.dependentvariable 17.Theparametersofaneconometricmodel_____. a.includeallunobservedfactorsaffectingthevariablebeingstudied b.describethestrengthoftherelationshipbetweenthevariableunderstudyandthefactorsaffectingit c.refertotheexplanatoryvariablesincludedinthemodel d.refertothepredictionsthatcanbemadeusingthemodel 18.Inthefollowingeconometricmodel,wage=β0+β1educ+u,whichofthefollowingfactorswouldnotbe containedinthetermu?  a.Experience(exper) b.Familybackground(fback) c.Innateability(abil) d.Education(educ) 19.Anempiricalanalysisrelieson_____totestatheory. a.commonsense b.ethicalconsiderations c.data d.customsandconventions 20.Dataontheincomeoflawgraduatescollectedatdifferenttimesduringthesameyearis_____. a.paneldata b.experimentaldata c.timeseriesdata d.cross-sectionaldata 21.Whichofthefollowingistrueofexperimentaldata? a.Experimentaldataarecollectedinlaboratoryenvironmentsinthenaturalsciences. b.Experimentaldatacannotbecollectedinacontrolledenvironment. c.Experimentaldataissometimescalledobservationaldata. d.Experimentaldataissometimescalledretrospectivedata.

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Chap01_7e 22.Whichofthefollowingisadifferencebetweenpanelandpooledcross-sectionaldata? a.Apaneldatasetconsistsofdataondifferentcross-sectionalunitsoveragivenperiodoftimewhilea pooleddatasetconsistsofdataonthesamecross-sectionalunitsoveragivenperiodoftime. b.Apaneldatasetconsistsofdataonthesamecross-sectionalunitsoveragivenperiodoftimewhilea pooleddatasetconsistsofdataondifferentcross-sectionalunitsoveragivenperiodoftime c.Apaneldataconsistsofdataonasinglevariablemeasuredatagivenpointintimewhileapooleddataset consistsofdataonthesamecross-sectionalunitsoveragivenperiodoftime. d.Apaneldatasetconsistsofdataonasinglevariablemeasuredatagivenpointintimewhileapooleddata setconsistsofdataonmorethanonevariableatagivenpointintime. 23._____hasacausaleffecton_____. a.Income;unemployment b.Height;health c.Income;consumption d.Age;wage 24.Nonexperimentaldataiscalled_____. a.cross-sectionaldata b.observationaldata c.timeseriesdata d.paneldata 25.Whichofthefollowingistrueoftimeseriesdata? a.Thetimeseriesdataiseasiertoanalyzethancross-sectionaldata. b.Thetimeseriesdataareindependentacrosstime. c.Thechronologicalorderingofobservationsinatimeseriesconveyspotentiallyimportantinformation. d.Atimeseriesdatasetconsistsofobservationsonavariableorseveralvariablesatagiventime. 26.Whichofthefollowingisanexampleoftimeseriesdata? a.Dataontheunemploymentratesindifferentpartsofacountryduringayear. b.Dataontheconsumptionofwheatby200householdsduringayear. c.Dataonthegrossdomesticproductofacountryoveraperiodof10years. d.Dataonthenumberofvacanciesinvariousdepartmentsofanorganizationonaparticularmonth. 27.Giventhefollowingeconometricmodel,wage=β0+β1educ+u,canweeliminatetheerrortermuentirely? a.Yes,byincludingotherobservablefactors,suchasexperience,thatcanalsoinfluencewage. b.Yes,byensuringthateveryonereportswageaccuratelyandtruthfully. c.No,becauseeducationisnotalwaysreportedaccurately. d.No,becausemanyfactorsaffectwage,thatwecannotevenlist,letaloneobserve.

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Chap01_7e 28.Econometricsisthebranchofeconomicsthat_____. a.studiesthebehaviorofindividualeconomicagentsinmakingeconomicdecisions b.developsandusesstatisticalmethodsforestimatingeconomicrelationships c.dealswiththeperformance,structure,behavior,anddecision-makingofaneconomyasawhole d.appliesmathematicalmethodstorepresenteconomictheoriesandsolveeconomicproblems

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Chap01_7e AnswerKey 1.True 2.False 3.True 4.False 5.False 6.False 7.False 8.a 9.b 10.c 11.a 12.b 13.a 14.d 15.c 16.a 17.b 18.d 19.c 20.d 21.a 22.b 23.c 24.b 25.c 26.c

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Chap01_7e 27.d 28.b

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