Which of the following is a subject that economists study?
a. the growth in average income
b. the fraction of the population that cannot find work
c. the rate at which prices are rising
d. All of the above are correct.
d
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In practice, you may want to use the OLS estimator instead of the WLS because
A) heteroskedasticity is seldom a realistic problem B) OLS is easier to calculate C) heteroskedasticity robust standard errors can be calculated D) the functional form of the conditional variance function is rarely known
When demand for a product increases but the supply of the product remains unchanged, the equilibrium price of the product will
a. rise and equilibrium quantity will decrease. b. fall. c. first fall and then return to the original level. d. rise, and equilibrium quantity will increase.