The TSLS estimator is
A) (X'X)-1 X'Y
B) (X'Z(Z'Z)-1 Z'X)-1 X'Z(Z'Z)-1 Z' Y
C) (X?-1X)-1(X?-1Y)
D) (X'Pz)-1PzY
Answer: B
Economics
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The average product is the greatest in the short run when the
A) total product is maximized. B) marginal product is equal to zero. C) marginal product is maximized. D) marginal product is equal to the average product. E) marginal product is greater than the average product.
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Why might governments choose to dispense with the market mechanism for directing development? What problems will arise?
What will be an ideal response?
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