"Taxes are what we pay for a civilized society." This statement was made by

Sovereign debt refers to

A) debt owned by the government. B) bonds issued by the government. C) debt owed to the government. D) debt only issued by nations with kings or queens.

Which of the following statements is true?

A. In large samples there are not many discrepancies between the outcomes of the F test and the LM test. B. Degrees of freedom of the unrestricted model are necessary for using the LM test. C. The LM test can be used to test hypotheses with single restrictions only and provides inefficient results for multiple restrictions. D. The LM statistic is derived on the basis of the normality assumption.