An estimator of ? is said to be linear if
A) it can be estimated by least squares.
B) it is a linear function of Y1,…, Yn .
C) there are homoskedasticity-only errors.
D) it is a linear function of X1,…, Xn .
Answer: B
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If the growth rates of nominal GDP and real GDP in an economy are 6% and 2% respectively, the inflation rate in the economy must be:
A) 2%. B) 8%. C) 4%. D) 3%.
The above figure shows the U.S. market for wheat. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________
A) area A; area B + area C + area E + area F B) area A + area B + area C; area E + area F C) area E + area F; area A D) area B + area C + area D; area E + area F E) area A + area B + area C + area D; area E + area F
Acquiring information on a bank's activities in order to determine a bank's risk is difficult for depositors and is another argument for government
A) regulation. B) ownership. C) recall. D) forbearance.
In a market economy, the allocation of the quantity supplied of any good among demanders is determined by
a. the needs of the individuals. b. the sellers. c. the market price. d. government regulations. e. a random process.