With heteroskedastic errors, the weighted least squares estimator is BLUE. You should use OLS with heteroskedasticity-robust standard errors because
A) this method is simpler.
B) the exact form of the conditional variance is rarely known.
C) the Gauss-Markov theorem holds.
D) your spreadsheet program does not have a command for weighted least squares.
Ans: B) the exact form of the conditional variance is rarely known.
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In the foreign exchange market, which of the following shifts the supply curve of dollars leftward?
A) The current exchange rate falls. B) The expected future exchange rate falls. C) The current exchange rate rises. D) The expected future exchange rate rises. E) None of the above answers is correct.
A quota is a
A) quantitative restriction on an import imposed by the importing country. B) quantitative restriction on an import imposed by the exporting country. C) restriction on how much a customer can buy of a scarce good imposed by the seller. D) tax that is imposed on a good when it crosses an international boundary. E) trade barrier that does not harm domestic consumers of the good or service.