Test Bank for Introductory Econometrics: A Modern Approach, 5th Edition by Jeffrey M. Wooldridge | Complete Solutions

TestF7BankF7–
IntroductoryF7Econometrics:F7AF7ModernF7Approac
h,F75thF7F7EditionF7byF7JeffreyF7M.F7Wooldridge

WithF7PERFECTF7SOLUTIONF7AVAILABLEF7OFF7ALLF7CHAPTER
S
ChapterF71

1. EconometricsF7isF7theF7branchF7ofF7economicsF7that .
a. studiesF7theF7behaviorF7ofF7individualF7economicF7agentsF7inF7makingF7economicF7decisions
b. developsF7andF7usesF7statisticalF7methodsF7forF7estimatingF7economicF7relationships
c. dealsF7withF7theF7performance,F7structure,F7behavior,F7andF7decision-
makingF7ofF7anF7economyF7asF7aF7whole
d. appliesF7mathematicalF7methodsF7toF7representF7economicF7theoriesF7andF7solveF7economicF7problems.

Answer:F7bF7D
ifficulty:F7Easy
Bloom’s:F7Knowledge
A-
Head:F7WhatF7isF7Econometrics
?F7BUSPROG:
Feedback:F7EconometricsF7isF7theF7branchF7ofF7economicsF7thatF7developsF7andF7usesF7statisticalF7methodsF
7forF7estimatingF7economicF7relationships.



2. NonexperimentalF7dataF7isF7called .
a. cross-sectionalF7data
b. timeF7seriesF7data
c. observationalF7 data
d. panelF7data

Answer:F7bF7D
ifficulty:F7Easy
Bloom’s:F7Knowledge
A-
Head:F7WhatF7isF7Econometrics
?F7BUSPROG:
Feedback:

3. WhichF7ofF7theF7followingF7isF7trueF7ofF7experimentalF7data?
a. ExperimentalF7dataF7areF7collectedF7inF7laboratoryF7environmentsF7inF7theF7naturalF7sciences.
b. ExperimentalF7dataF7cannotF7beF7collectedF7inF7aF7controlledF7environment.
c. ExperimentalF7dataF7isF7sometimesF7calledF7observationalF7data.
d. ExperimentalF7dataF7isF7sometimesF7calledF7retrospectiveF7data.

,Answer:F7aF7D
ifficulty:F7Easy
Bloom’s:F7Knowledge
A-Head:F7WhatF7isF7Econometrics?

,BUSPROG:
Feedback:

4. AnF7empiricalF7analysisF7reliesF7on toF7testF7aF7theory.
a. commonF7sense
b. ethicalF7considerations
c. data
d. customsF7andF7conventions

Answer:F7cF7Di
fficulty:F7Easy
Bloom’s:F7Knowledge
A-
Head:F7StepsF7inF7EmpiricalF7EconomicF7AnalysisF7
BUSPROG:
Feedback:F7AnF7empiricalF7analysisF7reliesF7onF7dataF7toF7testF7aF7theory.

5. TheF7termF7‘u’F7inF7anF7econometricF7modelF7isF7usuallyF7referredF7toF7asF7the .
a. errorF7term
b. parameter
c. hypothesis
d. dependentF7variable

Answer:F7aF7D
ifficulty:F7Easy
Bloom’s:F7Knowledge
A-
Head:F7StepsF7inF7EmpiricalF7EconomicF7AnalysisF7
BUSPROG:
Feedback:F7TheF7termF7uF7inF7anF7econometricF7modelF7isF7calledF7theF7errorF7termF7orF7disturbanceF7term.

6. TheF7parametersF7ofF7anF7econometricF7model .
a. includeF7allF7unobservedF7factorsF7affectingF7theF7variableF7beingF7studied
b. describeF7theF7strengthF7ofF7theF7relationshipF7betweenF7theF7variableF7underF7studyF7andF7theF7factorsF7
affectingF7it
c. referF7toF7theF7explanatoryF7variablesF7includedF7inF7theF7model
d. referF7toF7theF7predictionsF7thatF7canF7beF7madeF7usingF7theF7model

Answer:F7bF7D
ifficulty:F7Easy
Bloom’s:F7Knowledge
A-
Head:F7StepsF7inF7EmpiricalF7EconomicF7AnalysisF7
BUSPROG:
Feedback:F7TheF7parametersF7ofF7anF7econometricF7modelF7describeF7theF7directionF7andF7strengthF7ofF7the

, F7relationshipF7betweenF7theF7variableF7underF7studyF7andF7theF7factorsF7affectingF7it.