[此贴子已经被作者于2009-6-24 14:48:17编辑过]

1、The correct answer is D

All the other steps must be performed satisfactorily before the researcher has a model appropriate for making forecasts.

[此贴子已经被作者于2009-6-24 14:39:39编辑过]

2、Which of the following correctly identifies and states the first step in the methodology of econometrics?

A) Model the specification.

B) State the hypothesis to test based upon theory of interest.

C) Specify the model.

D) Collect the data.

2、The correct answer is B

The first step is to identify the hypothesis, which the researcher generally wishes to disprove, e.g., the relationship between the quantity consumed and price is zero. The researcher would try to disprove this statement, which allows for the conclusion that price does influence quantity consumed.

[此贴子已经被作者于2009-6-24 14:39:59编辑过]

Adding an error term to a regression model recognizes that:

A) the model is not deterministic.

B) researchers collect imperfect data.

C) the model is not ever truly correctly specified.

D) the causation of the relationship can go either way.

3、  The correct answer is A

A regression model generally does not determine the dependent variable exactly, i.e., it is not deterministic. One reason for this is that the researcher cannot include all the necessary independent variables in the model.

A) The value of “b1” represents the expected change in the independent variable given a unit change in the dependent variable.

B) The value of “b0” represents the expected change in the dependent variable given a unit change in the independent variable.

C) The value of “b1” represents the expected change in the dependent variable given a unit change in the independent variable.

D) The value of “b0” represents the expected change in the independent variable given a unit change in the dependent variable.

4、  The correct answer is C

In the equation, b₁ represents the slope coefficient, which indicates how the dependent variable moves in response to changes to the independent variable.

5、  The correct answer is  C

Changes attributable to a particular condition or day should be tested using a dummy variable.

A) neither publicly available nor privately purchased data.

B) privately purchased but not publicly available data.

C) both publicly available and privately purchased data.

D) publicly available but not privately purchased data.

[此贴子已经被作者于2009-6-24 14:46:09编辑过]

6、  The correct answer is C

Both types of data are used in econometric models.

A) panel variable.

B) longitudinal variable.

C) dummy variable.

D) deterministic variable.

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A) cross-sectional data.

B) deterministic data.

C) time series data.

D) specified data.

Since it pertains to a given year and the relationship is between two variables for that year, it would be cross-sectional data.

A) Both the suggestion of Barns and that of Tillman.

B) Neither the suggestion of Barns nor that of Tillman.

C) The suggestion of Barns but not the suggestion of Tillman.

D) The suggestion of Tillman but not the suggestion of Barns.

9、The correct answer is A

Both of the suggestions are methods for testing the specification of an econometric model. The point is to find if other variables have significant explanatory power and if the relationships are correctly measured.