Feasible WLS does not rely on the following condition:
A) the conditional variance depends on a variable which does not have to appear in the regression function.
B) estimating the conditional variance function.
C) the key assumptions for OLS estimation have to apply when estimating the conditional variance function.
D) the conditional variance depends on a variable which appears in the regression function.
Answer: D
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The term prisoners' dilemma
a. refers only to situations where prisoners' must confess on one another. b. is in agreement with Adam Smith's invisible hand idea. c. represents situations where people do not act in their own self interest. d. can be applied to show why cartels are difficult to maintain.
Table 7-5 Stereos produced 0 1 2 3 4 5 6 Total cost (in $) 200 325 410 475 550 660 825 Table 7-5 shows short-run total cost figures for a stereo manufacturer. At what output level does short-run average variable cost reach a minimum?
A. 2 B. 3 C. 4 D. 5
A minimum wage set above the equilibrium wage I. increases the supply of labor. II. increases the quantity of labor supplied. III. decreases the demand for labor
A) I only B) II only C) I and II only D) I, II, and III
Discounting or computing present value is a way of comparing dollar values that will appear at different points in time.
Answer the following statement true (T) or false (F)