?The first step in estimating simultaneous equations models (SEMs) with panel data is to find instrumental variables for the endogenous variables in the transformed equation.
Answer the following statement true (T) or false (F)
False
Rationale: FEEDBACK: The first step in estimating SEMs with panel data is to eliminate the unobserved effects from the equations of interest using the fixed effects transformation.?
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Under perfect competition, if an industry is characterized by positive economic profits in the short run:
a. firms will leave the market in the long run and the short-run supply curve will shift outward. b. firms will enter the market in the long run and the short-run supply curve will shift outward. c. firms will enter the market in the long run and the short-run supply curve will shift inward. d. firms will leave the market in the long run and the short-run supply curve will shift inward.
The 45-degree line on a graph relating consumption and income shows:
A. all the points where the MPC is constant. B. all the points at which saving and income are equal. C. all the points at which consumption and income are equal. D. the amounts households will plan to save at each possible level of income.
Controlled experiments and field studies in countries like India indicate that the success of programs to assist individuals in extreme poverty
A) can be dependent on very specific circumstances surrounding each of these programs B) can be dependent on the continent on which the program is used C) can be dependent on which World Bank unit is involved in supervising aid D) can be dependent on the way in which GDP is calculated in the country
A major criticism of the World Trade Organization is that it:
A. Raises output and production in developing nations at the expense of developed nations B. Increases the living standards in member nations at the expense of non-member nations C. Weakens collective bargaining and labor laws in member nations D. Imposes costly environmental protections on the world economy