How would you evaluate the quality of this equation overall? Do you have any concerns? Explain
What will be an ideal response?
The overall equation is significant, as shown by the F-test. The R2 value is reasonably high. One variable is not significant (might be desirable to re-estimate the equation without it, although the inclusion of irrelevant variables does not affect the properties of the OLS model). The sample size is sufficiently large. There are no significant concerns. {Other answers are possible.}
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Answer the following statement true (T) or false (F)
In the foreign exchange market, as the U.S. exchange rate rises, other things remaining the same, the
A) quantity of dollars demanded decreases. B) demand curve for dollars shifts rightward. C) demand curve for dollars shifts leftward. D) supply curve of dollars shifts rightward. E) quantity of dollars demanded increases.
Evaluate the following statement: "Advertisements that use celebrity endorsements are devoid of any value and do not enhance the efficient functioning of markets."
Suppose that the share of population employed in Country B is 50 percent, and that Countries B and C have the same real GDP per capita. Based on the information in the table, what share of Country C's population must be employed? CountryPopulation (millions)Average Labor Productivity ($)A1002,000B15010,000C7525,000D25050,000E9560,000
A. 20.0 percent B. 40.0 percent C. 50.0 percent D. 5.0 percent