A time series is
A) the length of a business cycle.
B) a macroeconomic aggregate that does not lead or lag the business cycle.
C) data that is subject to revision.
D) a sequence of dated measurements.
D
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Consider the game depicted below. Player 1 decides between going L or R in stage 1 and 3 of the game. Player 2 decides between going l and r in stage 2 of the game.
a. List the possible pure strategies for each player in this game and illustrate the payoffs from each pair of strategies in a matrix.
b. Is there a dominant strategy for either player?
c. Identify the subgame perfect equilibrium strategies and outcome. d. Identify the Nash Equilibria that are not subgame perfect. e. For each Nash Equilibrium that is not subgame perfect, explain which parts of the Nash Equilibrium strategies are non-credible. f. Suppose you have developed a drug that can be administered without the victim being aware of it. The effect of the drug is that the victim suddenly becomes gullible and believes anything he is told. You only have 1 dose of the drug and decide to auction it off to the two players right before they play each other in the game you have analyzed so far. Each player is asked to submit a sealed bid, and the highest bidder will be sold the drug at a price equal to the highest bid. In case of a tie in bids, a coin is flipped to determine who wins and pays the price that was bid. Suppose in this part that payoffs are in terms of dollars and that bids can be made in one cent increments. Suppose further that players do not consider bidding above the maximum they are willing to pay. Given that the players know each other's payoffs in the above game, what is the equilibrium price that you will be able to sell the drug for? (Hint: There are two possible answers.) g. In part (f), we said "Suppose further that players do not consider bidding above the maximum they are willing to pay." Can you think of a Nash equilibrium to the auction that would end in a price of $8 if we had not made that statement in (f)? What will be an ideal response?
Refer to Table 9-11. Which country has a comparative advantage in producing hats?
A) Denmark B) Belize C) both countries D) neither country
In Griggs v. Duke Power Company, the Supreme Court allowed the use of aptitude tests for job seekers
Indicate whether the statement is true or false
A multiperiod regression forecast h periods into the future based on an AR(p) is computed
A) the same way as the iterated AR forecast. B) by estimating the multiperiod regression Yt = ?0 + ?1Yt-h + ... + ?pYt-p-h+1 + ut, then using the estimated coefficients to compute the forecast h periods in advance. C) by estimating the multiperiod regression Yt = ?0 + ?1Yt-h + ut , then using the estimate coefficients to compute the forecast h period in advance. D) by first computing the one-period ahead forecast, next using that to compute the two-period ahead forecast, and so forth.