The Gauss-Markov theorem will not hold if _____.
A. the error term has the same variance given any values of the explanatory variables
B. the error term has an expected value of zero given any values of the independent variables
C. the independent variables have exact linear relationships among them
D. the regression model relies on the method of random sampling for collection of data
Answer: C
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A country reports the total expenditures on the fixed CPI basket for the past three years
The cost of the CPI basket in 2010 was $23,000, the cost of the CPI basket for the reference base period, 2011, was $23,805, and the cost of the CPI basket in 2012 was $24,500. The CPI for 2010 is A) 96.6. B) 100.0. C) 103.5. D) 106.5. E) 23.0.
Which of the following cannot be determined from a nation's position relative to its production possibilities frontier?
a. whether it is producing efficiently b. whether it has unemployed resources c. the opportunity cost of each good illustrated d. the society's relative preferences regarding each good illustrated e. the price of each good illustrated