TEST BANK FOR Introductory Econometrics: A Modern Approach 7th Edition by Jeffrey M. Wooldridge

l
tia
en
id
nf
Co

,Test
TestBank: Introductory
Bank –Introductory
i i Econometrics:Econometrics:
i i i
A Modern
A Modern Approach, 5th Edition
i by Jeffrey M.Approach
i i Wooldridge
i i
7thi i




i by Jeffrey
With PERFECT SOLUTION AVAILABLE
i i iM. Wooldridge
OF ALL CHAPTERS i i




Chapter i1

1. Econometrics iis ithe ibranch iof ieconomics ithat .
a. studies ithe ibehavior iof iindividual ieconomic iagents iin imaking ieconomic idecisions
b. develops iand iuses istatistical imethods ifor iestimating ieconomic irelationships
c. deals iwith ithe iperformance, istructure, ibehavior, iand idecision-making iof ian ieconomy ias ia iwhole
d. applies imathematical imethods ito irepresent ieconomic itheories iand isolve ieconomic iproblems.

Answer: ib
iDifficulty: iEasy
Co
Bloom’s: iKnowledge
A-Head: iWhat iis
iEconometrics?iBUSPROG:


Feedback: iEconometrics iis ithe ibranch iof ieconomics ithat idevelops iand iuses istatistical imethods
nf
iforiestimating ieconomic irelationships.




2. Nonexperimental idata iis icalled .
id
a. cross-sectional idata
b. time iseries idata
c. observational idata
en
d. panel idata

Answer: ib
iDifficulty: iEasy
tia
Bloom’s: iKnowledge
A-Head: iWhat iis
iEconometrics?iBUSPROG:


Feedback:
l
3. Which iof ithe ifollowing iis itrue iof iexperimental idata?
a. Experimental idata iare icollected iin ilaboratory ienvironments iin ithe inatural isciences.
b. Experimental idata icannot ibe icollected iin ia icontrolled ienvironment.
c. Experimental idata iis isometimes icalled iobservational idata.
d. Experimental idata iis isometimes icalled iretrospective idata.

Answer: ia
iDifficulty: iEasy


Bloom’s: iKnowledge
A-Head: iWhat iis iEconometrics?

,BUSPROG:
Feedback:

4. An iempirical ianalysis irelies ion to itest ia itheory.
a. common isense
b. ethical iconsiderations
c. data
d. customs iand iconventions

Answer: ic
iDifficulty: iEasy


Bloom’s: iKnowledge
A-Head: iSteps iin iEmpirical iEconomic
Co
iAnalysisiBUSPROG:


Feedback: iAn iempirical ianalysis irelies ion idata ito itest ia itheory.

5. The iterm i‘u’ iin ian ieconometric imodel iis iusually ireferred ito ias ithe .
nf
a. error iterm
b. parameter
c. hypothesis
id
d. dependent ivariable

Answer: ia
en
iDifficulty: iEasy


Bloom’s: iKnowledge
A-Head: iSteps iin iEmpirical iEconomic
iAnalysisiBUSPROG:
tia
Feedback: iThe iterm iu iin ian ieconometric imodel iis icalled ithe ierror iterm ior idisturbance iterm.

6. The iparameters iof ian ieconometric imodel .
a. include iall iunobserved ifactors iaffecting ithe ivariable ibeing istudied
l
b. describe ithe istrength iof ithe irelationship ibetween ithe ivariable iunder istudy iand ithe ifactors iaffecting iit
c. refer ito ithe iexplanatory ivariables iincluded iin ithe imodel
d. refer ito ithe ipredictions ithat ican ibe imade iusing ithe imodel

Answer: ib
iDifficulty: iEasy


Bloom’s: iKnowledge
A-Head: iSteps iin iEmpirical iEconomic
iAnalysisiBUSPROG:


Feedback: iThe iparameters iof ian ieconometric imodel idescribe ithe idirection iand istrength iof
itheirelationship ibetween ithe ivariable iunder istudy iand ithe ifactors iaffecting iit.

, 7. Which iof ithe ifollowing iis ithe ifirst istep iin iempirical ieconomic ianalysis?
a. Collection iof idata
b. Statement iof ihypotheses
c. Specification iof ian ieconometric imodel
d. Testing iof ihypotheses

Answer: ic
iDifficulty: iEasy


Bloom’s: iKnowledge
A-Head: iSteps iin iEmpirical iEconomic
iAnalysisiBUSPROG:


Feedback: iThe ifirst istep iin iempirical ieconomic ianalysis iis ithe ispecification iof ithe ieconometric imodel.
Co
8. A idata iset ithat iconsists iof ia isample iof iindividuals, ihouseholds, ifirms, icities, istates, icountries, ior
iaivariety iof iother iunits, itaken iat ia igiven ipoint iin itime, iis icalled ia(n) .
a. cross-sectional idata iset
nf
b. longitudinal idata iset
c. time iseries idata iset
d. experimental idata iset
id
Answer: ia
iDifficulty: iEasy
en
Bloom’s: iKnowledge
A-Head: iThe iStructure iof iEconomic
iDataiBUSPROG:


Feedback: iA idata iset ithat iconsists iof ia isample iof iindividuals, ihouseholds, ifirms, icities, istates, icountries,ior
tia
ia ivariety iof iother iunits, itaken iat ia igiven ipoint iin itime, iis icalled ia icross-sectional idata iset.




9. Data ion ithe iincome iof ilaw igraduates icollected iat idifferent itimes iduring ithe isame iyear iis .
a. panel idata
l
b. experimental idata
c. time iseries idata
d. cross-sectional idata

Answer: id
iDifficulty: iEasy


Bloom’s: iApplication
A-Head: iThe iStructure iof iEconomic
iDataiBUSPROG: iAnalytic