The OLS estimator is derived by
A) connecting the Yi corresponding to the lowest Xi observation with the Yi corresponding to the highest Xi observation.
B) making sure that the standard error of the regression equals the standard error of the slope estimator.
C) minimizing the sum of absolute residuals.
D) minimizing the sum of squared residuals.
Answer: D
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The assumption that population growth will lead to a fall in real GDP per person rate back to subsistence level is
A) accepted by all economists today. B) associated with Malthusians. C) part of the neoclassical school of growth theory. D) central to the new growth theory.
It is possible that class discrimination has become a stronger force in American society than racial discrimination
Indicate whether the statement is true or false