Heteroskedasticity means that
A) homogeneity cannot be assumed automatically for the model.
B) the variance of the error term is not constant.
C) the observed units have different preferences.
D) agents are not all rational.
Answer: B
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How is the public debt calculated?
A. By summing the annual government purchases over time B. By summing the annual difference between tax revenues and government spending over the years C. By subtracting current government spending from current government tax revenues D. By subtracting the government's total liabilities from its total assets
In the figure above, what is the equilibrium price and quantity?
What will be an ideal response?
Charging different customers different prices is always illegal in the United States
a. True b. False
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced. B. an unattainable production point. C. what society wants. D. the economy's optimal production point.