In the simple linear regression model Yi = ?0 + ?1Xi + ui,
A) the intercept is typically small and unimportant.
B) ?0 + ?1Xi represents the population regression function.
C) the absolute value of the slope is typically between 0 and 1.
D) ?0 + ?1Xi represents the sample regression function.
Answer: B) ?0 + ?1Xi represents the population regression function.
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New Keynesian inflation dynamics predicts that an increase in aggregate demand will generate, in chronological order
A) a rightward movement along a horizontal short-run aggregate supply curve, a short-run increase in real GDP, an upward shift in the short-run aggregate supply curve, and an increase in the price level. B) a leftward movement along a horizontal short-run aggregate supply curve, a short-run decline in real GDP, a downward shift in the short-run aggregate supply curve, and a decrease in the price level. C) an leftward shift in a vertical short-run aggregate supply curve, a short-run decline in real GDP, an upward movement along the short-run aggregate supply curve, and an increase in the price level. D) a rightward shift in a vertical short-run aggregate supply curve, a short-run increase in real GDP, an upward movement along the short-run aggregate supply curve, and an increase in the price level.
Economic growth can be depicted as
A. an inward shift on the production possibilities curve. B. an outward shift on the production possibilities curve. C. a movement down on the production possibilities curve. D. a movement up on the production possibilities curve.