Test Bank - for Introduction to Econometrics 3rd Edition by H STOCK JAMES & W. WATSON MARK All Chapters Complete Guide A+

TestgBankg–
IntroductorygEconometrics:gAgModerngApproach,g5thgEditiongbyggJeffreygM.g
Wooldridge

WithgPERFECTgSOLUTIONgAVAILABLEgOFgALLgCHAPTERS

Chapterg1

1. Econometricsgisgthegbranchgofgeconomicsgthatg .
a. studiesgthegbehaviorgofgindividualgeconomicgagentsgingmakinggeconomicgdecision
s
b. developsgandgusesgstatisticalgmethodsgforgestimatinggeconomicgrelationships
c. dealsgwithgthegperformance,gstructure,gbehavior,gandgdecision-
makinggofgangeconomygasgagwhole
d. appliesgmathematicalgmethodsgtogrepresentgeconomicgtheoriesgandgsolv
egeconomicgproblems.

Answer:gbgDiff
iculty:gEasy
Bloom’s:g Knowledge
A-
Head:gWhatgisgEconometrics?gBUSPROG:
Feedback:gEconometricsgisgthegbranchgofgeconomicsgthatgdevelopsgandgus
esgstatisticalgmethodsgforgestimatinggeconomicgrelationships.

2. Nonexperimentalgdatagisgcalledg .
a. cross-sectionalg data
b. timegseriesgdata
c. observationalg data
d. panelgdata

Answer:gbgDiff
iculty:gEasy
Bloom’s:g Knowledge
A-
Head:gWhatgisgEconometrics?gBUSPROG:
Feedback:

3. Whichgofgthegfollowinggisgtruegofgexperimentalgdata?
a. Experimentalgdatagaregcollectedginglaboratorygenvironmentsgingthegnatur
algsciences.
b. Experimentalgdatagcannotgbegcollectedgingagcontrolledgenvironment.
c. Experimentalgdatagisgsometimesgcalledgobservationalgdata.
d. Experimentalgdatagisgsometimesgcalledgretrospectivegdata.

Answer:gagDiffi
culty:gEasy

,Bloom’s:g Knowledge
A-
Head:gWhatgisgEconometrics?gBUSPROG:
Feedback:

4. Angempiricalganalysisgreliesgong tog testg ag theory.
a. commong sense
b. ethicalgconsiderations
c. data
d. customsgandgconventions

Answer:gcgDiffi
culty:gEasy
Bloom’s:g Knowledge
A-
Head:gStepsgingEmpiricalgEconomicgAnalysisgBUSPRO
G:
Feedback:gAngempiricalganalysisgreliesgongdatagtogtestgagtheory.

5. Thegtermg‘u’gingangeconometricgmodelgisgusuallygreferredgtogasgtheg .
a. errorgterm
b. parameter
c. hypothesis
d. dependentgvariable

Answer:gagDiffi
culty:gEasy
Bloom’s:g Knowledge
A-
Head:gStepsgingEmpiricalgEconomicgAnalysisgBUSPRO
G:
Feedback:gThegtermgugingangeconometricgmodelgisgcalledgthegerrorgtermgor
gdisturbanceg term.



6. Thegparametersgofgangeconometricgmodelg .
a. includegallgunobservedgfactorsgaffectinggthegvariablegbeinggstudied
b. describegthegstrengthgofgthegrelationshipgbetweengthegvariablegundergstudyga
ndgthegfactorsgaffectinggit
c. refergtogthegexplanatorygvariablesgincludedgingthegmodel
d. refergtogthegpredictionsgthatgcangbegmadegusinggthegmodel

Answer:gbgDiff
iculty:gEasy
Bloom’s:g Knowledge
A-
Head:gStepsgingEmpiricalgEconomicgAnalysisgBUSPRO
G:

,Feedback:gThegparametersgofgangeconometricgmodelgdescribegthegdirectiongandgstr
engthgofgthegrelationshipgbetweengthegvariablegundergstudygandgthegfactorsgaffecti
nggit.

7. Whichgofgthegfollowinggisgthegfirstgstepgingempiricalgeconomicganalysis?
a. Collectiongofgdata
b. Statementgofghypotheses
c. Specificationgofgangeconometricgmodel
d. Testinggofghypotheses

Answer:gcgDiffi
culty:gEasy
Bloom’s:g Knowledge
A-
Head:gStepsgingEmpiricalgEconomicgAnalysisgBUSPRO
G:
Feedback:gThegfirstgstepgingempiricalgeconomicganalysisgisgthegspecificationgofgtheg
econometricgmodel.

8. Agdatagsetgthatgconsistsgofgagsamplegofgindividuals,ghouseholds,gfirms,gcities,gs
tates,gcountries,gorgagvarietygofgothergunits,gtakengatgaggivengpointgingtime,gisgcall
edga(n)g .
a. cross-sectionalg datag set
b. longitudinalg datagset
c. timegseriesgdatagset
d. experimentalgdatagset

Answer:gagDiffi
culty:gEasy
Bloom’s:g Knowledge
A-
Head:gThegStructuregofgEconomicgDatagB
USPROG:
Feedback:gAgdatagsetgthatgconsistsgofgagsamplegofgindividuals,ghouseholds,gfirms,g
cities,gstates,gcountries,gorgagvarietygofgothergunits,gtakengatgaggivengpointgingtime,g
isgcalledgagcross-sectionalgdatagset.

9. Datagongthegincomegofglawggraduatesgcollectedgatgdifferentgtimesgduringgthegsa
megyeargis .
a. panelgdata
b. experimentalgdata
c. timegseriesgdata
d. cross-sectionalg data

Answer:gdgDiff
iculty:gEasy

, Bloom’s:g Application
A-
Head:gThegStructuregofgEconomicgDatagB
USPROG:gAnalytic
Feedback:gAgdatagsetgthatgconsistsgofgagsamplegofgindividuals,ghouseholds,gfirms,g
cities,gstates,gcountries,gorgagvarietygofgothergunits,gtakengatgaggivengpointgingtime,g
isgcalledgagcross-
sectionalgdatagset.gTherefore,gdatagongthegincomegofglawggraduatesgongagparticular
gyeargareg examplesg ofgcross-sectionalg data.



10. Agdatagsetgthatgconsistsgofgobservationsgongagvariablegorgseveralgvariablesgo
vergtimegisgcalledgag datagset.
a. binary
b. cross-sectional
c. timeg series
d. experimental

Answer:gcgDiffi
culty:gEasy
Bloom’s:g Knowledge
A-
Head:gThegStructuregofgEconomicgDatagB
USPROG:
Feedback:gAgtime-
seriesgdatagsetgconsistsgofgobservationsgongagvariablegorgseveralgvariablesgovergtim
e.

11. Whichgofgthegfollowinggisgangexamplegofgtimegseriesgdata?
a. Datagongthegunemploymentgratesgingdifferentgpartsgofgagcountrygduringgagyear.
b. Datagongthegconsumptiongofgwheatgbyg200ghouseholdsgduringgagyear.
c. Datagongtheggrossgdomesticgproductgofgagcountrygovergagperiodgofg10gyears.
d. Datagongthegnumbergofgvacanciesgingvariousgdepartmentsgofgangorganizationgo
ngagparticulargmonth.

Answer:gcgDiffi
culty:gEasy
Bloom’s:g Application
A-
Head:gThegStructuregofgEconomicgDatagB
USPROG:gAnalytic
Feedback:gAgtime-
seriesgdatagsetgconsistsgofgobservationsgongagvariablegorgseveralgvariablesgover
time.gTherefore,gdatagongtheggrossgdomesticgproductgofgagcountrygovergagperiodgofg
10gyearsgisgangexamplegofgtimegseriesgdata.

12. Whichgofgthegfollowinggrefersgtogpanelgdata?
a. Datagongthegunemploymentgrategingagcountrygovergag5-yeargperiod
b. Datagongthegbirthgrate,gdeathgrategandgpopulationggrowthgrategingdevelopi