Heteroskedasticity- and autocorrelation-consistent standard errors
A) result in the OLS estimator being BLUE.
B) should be used when errors are autocorrelated.
C) are calculated when using the Cochrane-Orcutt iterative procedure.
D) have the same formula as the heteroskedasticity robust standard errors in cross-sections.
Answer: B
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Which of the following is likely to happen if the government increases its expenditure?
A) Price level will fall. B) Investment will decrease. C) Unemployment will increase. D) Consumption will increase.
What must be true for a consumer to buy a good or service?
A) The price must be equal to or less than the marginal benefit. B) The total benefit received must equal the total spent to buy the good or service. C) The consumer must be able to obtain some consumer surplus. D) The consumer must not be able to produce the product. E) The price must be equal to or greater than the marginal benefit.