The AIC is a statistic
A) that is used as an alternative to the BIC when the sample size is small (T < 50)
B) often used to test for heteroskedasticity
C) used to help a researcher chose the number of lags in a time series with multiple predictors
D) all of the above
Answer: C
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Suppose the actual budget deficit increases when the economy falls into a recession. This is an indication that
A) monetary policy was used during the recession. B) monetary policy was not used during the recession. C) fiscal policy was used during the recession. D) fiscal policy was not used during the recession.
Refer to the scenario above. If the individual places his bet on ten pockets, his likelihood of winning is:
A) 5%. B) 10%. C) 20%. D) 25%.
The price elasticity of demand for a printer is estimated to be 1 . This means that an increase in price by 10% will
a. Increase quantity demanded by 10% b. Decrease quantity demanded by 10% c. Increase demand by 10% d. Decrease demand by 10%
In a country with a working-age population of 22 million, 16 million are employed, 2 million are and 1 million of the employed are working part-time, half of whom wish to work full-time. The employment-to-population ratio is
A) 65 percent. B) 57.5 percent. C) 72.7 percent. D) 75.5 percent. E) none of the above.