A definition of internal validity is
A) the estimator of the causal effect being unbiased and consistent
B) the estimator of the causal effect being efficient
C) inferences and conclusions being generalized from the population to other populations
D) OLS estimation being available in your statistical package
Answer: A) the estimator of the causal effect being unbiased and consistent
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Refer to Figure 17-2. The nonaccelerating inflation rate of unemployment, or NAIRU, is associated with which point rate in the figure above?
A) A B) B C) C D) all of the above
The income generated from the sale of the goods and services produced in the economy and paid to the individuals and businesses who supply the factors of production is called:
A) GDP. B) GNP. C) national income. D) NNP.
According to the quantity theory of money, if M's growth is less than Q's, then
a. V falls b. V rises c. P stays the same d. P falls e. P rises
Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10 . The marginal product of the seventh unit of labor is 4 . Given this information, what is the marginal cost of production when the firm hires the 7th
worker? a. $1.50 b. $2.50 c. $5 d. $10