In a quasi-experiment
A) quasi differences are used, i.e., instead of ?Y you need to use ( - λ × ), where 0 < λ < 1.
B) randomness is introduced by variations in individual circumstances that make it appear as if the treatment is randomly assigned.
C) the causal effect has to be estimated through quasi maximum likelihood estimation.
D) the t-statistic is no longer normally distributed in large samples.
Ans: B) randomness is introduced by variations in individual circumstances that make it appear as if the treatment is randomly assigned.
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If the demand for widgets is inelastic, total revenue will ________ if the price of widgets increases.
a. increase b. decrease c. remain the same d. one cannot tell what will happen to revenues without specific elasticity numbers e. none of the above
To convey information about the dynamic multipliers more effectively, you should
A) plot them. B) discuss these carefully one at a time. C) estimate them by maximum likelihood methods. D) first make sure that they are stationary.