If we have a small standard error, then
A) the estimated coefficient is small.
B) the true demand function has imprecise coefficients.
C) the expected variation of the estimated coefficient is small.
D) the estimated coefficients are imprecise indicators of the true values.
C
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Freeways in large cities tend to be congested during rush hours to the point where offer little or no advantage over non-freeway routes because
A) drivers generally ignore marginal benefits and costs. B) drivers usually ignore marginal benefits and costs during rush hours. C) no monetary fee is charged for the use of freeways during rush hours. D) not enough freeways have been constructed due to special interests' control of the government. E) people need to get to work and the demand for freeway travel is consequently inelastic during rush hours.
In short-run equilibrium in a perfectly competitive market,
a. the price varies along the market supply curve b. each consumer can buy whatever quantity he wishes to buy at the market price c. the price varies along the market demand curve d. the market demand curve is horizontal e. the market demand curve is vertical