A stochastic process refers to a:
A. sequence of random variables indexed by time.
B. sequence of variables that can take fixed qualitative values.
C. sequence of random variables that can take binary values only.
D. sequence of random variables estimated at the same point of time.
Answer: A
You might also like to view...
School vouchers can be used to arrive at the efficient market equilibrium because vouchers
A) increase demand for schooling. B) increase supply of schooling. C) decrease the cost of schooling. D) decrease supply of schooling.
In a market economy, decisions about what to produce are made primarily by
a. the government. b. individuals and firms. c. firms in consultation with the government. d. a central planning committee.
If the government were to run a budget deficit and wanted to finance it by printing money, would it have the central bank conduct open market purchases or open market sales?
Which of the following is NOT a necessary condition for oligopoly?
A. strategic dependence of firms B. either a small number of firms or market dominance by a small number of firms C. barriers to entry D. differentiated products