Between 1950 and 2004, standards of living in the OECD countries
A) did not change at all.
B) were converging.
C) all increased at the same rate.
D) decreased at the same rate.
E) decreased, but at different rates.
B
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Misspecification of functional form of the regression function
A) is overcome by adding the squares of all explanatory variables. B) is more serious in the case of homoskedasticity-only standard error. C) results in a type of omitted variable bias. D) requires alternative estimation methods such as maximum likelihood.
The movement in U.S. population from the farms to urban areas was caused primarily by
a. each member of a farm family specializing in a particular set of tasks b. a sharp increase in farm productivity c. a decline in the demand for labor in urban areas d. a sharp decline in the demand for agricultural products e. increased education among married women