A binary variable is a variable whose value changes with a change in the number of observations.
Answer the following statement true (T) or false (F)
False
Rationale: FEEDBACK: A binary variable is one whose value depends on the event taking place.
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Which of the following is an example of adverse selection?
A) Overgrazing of a common piece of land B) Passengers travelling in a subway without a ticket C) A customer buying a defective appliance from a used goods market D) The generation of a harmful chemical during the production of a good
Cross-section data observed at several points in time are called inverted data
Indicate whether the statement is true or false
In the long run ________
A) the amount of output an economy can produce is determined by real variables like capital, labor and technological advances B) aggregate supply is fixed at the potential level of output C) there is enough time for prices to fully adjust so the classical dichotomy holds D) all of the above E) none of the above
What are the cost and benefits to a country instituting capital controls?
What will be an ideal response?