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

,TestvBankv–IntroductoryvEconometrics:vAvModernvApproach,v5thvEditionvbyvJeffreyvM.vWooldridge

WithvPERFECTvSOLUTIONvAVAILABLEvOFvALLvCHAPTERS

Chapterv1

1. Econometricsvisvthevbranchvofveconomicsvthatv .
a. studiesvthevbehaviorvofvindividualveconomicvagentsvinvmakingveconomicvdecisions
b. developsvandvusesvstatisticalvmethodsvforvestimatingveconomicvrelationships
c. dealsvwithvthevperformance,vstructure,vbehavior,vandvdecision-makingvofvanv economyvasvavwhole
d. appliesvmathematicalvmethodsvtovrepresentveconomicvtheoriesvandvsolveveconomicvproblems.

Econometricsvisvbasedvonvthevdevelopmentvofvstatisticalv
methodsvforvestimatingveconomicvrelationships,vtestingv
economicvtheories,vevaluatingvgovernmentvandvbusinessv
policies.
2. Nonexperimentalvdatavisvcalledv .
a. cross-sectionalv data
b. timevseriesvdata
c. observationalvdata
d. panelvdata



3. Whichvofvthevfollowingvisvtruevofvexperimentalvdata?
a. Experimentalvdatavarevcollectedvinvlaboratoryvenvironmentsvinvthevnaturalvsciences.
b. Experimentalvdatavcannotvbevcollectedvinvavcontrolledvenvironment.
c. Experimentalvdatavisvsometimesvcalledvobservationalvdata.
d. Experimentalvdatavisvsometimesvcalledvretrospectivevdata.

4. Anvempiricalvanalysisvreliesvonv tovtestvavtheory.
a. commonvsense
b. ethicalvconsiderations
c. data
d. customsvandvconventions

5. Thevtermv‘u’vinvanveconometricvmodelvisvusuallyvreferredvtovasvthev .
a. errorvterm
b. parameter
c. hypothesis
d. dependentvvariable

6. Thevparametersvofvanveconometricvmodelv .
a. includevallvunobservedvfactorsvaffectingvthevvariablevbeingvstudied

,b. describevthevstrengthvofvthevrelationshipvbetweenvthevvariablevundervstudyvandvthevfactorsvaffectingv
it
c. refervtovthevexplanatoryvvariablesvincludedvinvthevmodel
d. refervtovthevpredictionsvthatvcanvbevmadevusingvthevmodel
7. Whichvofvthevfollowingvisvthevfirstvstepvinvempiricalveconomicvanalysis?
a. Collectionvofvdata
b. Statementvofvhypotheses
c. Specificationvofvanveconometricvmodel
d. Testingvofvhypotheses

8. Avdatavsetvthatvconsistsvofvavsamplevofvindividuals,vhouseholds,vfirms,vcities,vstates,vcountries,vorvav
varietyvofvothervunits,vtakenvatvavgivenvpointvinvtime,visvcalledva(n)v .
a. cross-sectionalvdatavset
b. longitudinalvdatavset
c. timevseriesvdatavset
d. experimentalvdatavset

9. Datavonvthevincomevofvlawvgraduatesvcollectedvatvdifferentvtimesvduringvthevsamevyearvis .
a. panelvdata
b. experimentalvdata
c. timevseriesvdata
d. cross-sectionalvdata

10. Avdatavsetvthatvconsistsvofvobservationsvonvavvariablevorvseveralvvariablesvovervtimevisvcalledvav
datavset.
a. binary
b. cross-sectional
c. timevseries
d. experimental

11. Whichvofvthevfollowingvisvanvexamplevofvtimevseriesvdata?
a. Datavonvthevunemploymentvratesvinvdifferentvpartsvofvavcountryvduringvavyear.
b. Datavonvthevconsumptionvofvwheatvbyv200vhouseholdsvduringvavyear.
c. Datavonvthevgrossvdomesticvproductvofvavcountryvovervavperiodvofv10vyears.
d. Datavonvthevnumbervofvvacanciesvinvvariousvdepartmentsvofvanvorganizationvonvavparticularvmonth.

12. Whichvofvthevfollowingvrefersvtovpanelvdata?
a. Datavonvthevunemploymentvratevinvavcountryvovervav5-yearvperiod
b. Datavonvthevbirthvrate,vdeathvratevandvpopulationvgrowthvratevinvdevelopingvcountriesvovervav10-
vyearvperiod.


c. Datavonvthevincomevofv5vmembersvofvavfamilyvonvavparticularvyear.
d. Datavonvthevpricevofvavcompany’svsharevduringvavyear.

, 13. Whichvofvthevfollowingvisvavdifferencevbetweenvpanelvandvpooledvcross-sectionalvdata?
a. Avpanelvdatavsetvconsistsvofvdatavonvdifferentvcross-
sectionalvunitsvovervavgivenvperiodvofvtimevwhilevavpooledvdatavsetvconsistsvofvdatavonvthevsamevcross-
sectionalvunitsvovervavgivenvperiodvofvtime.
b. Avpanelvdatavsetvconsistsvofvdatavonvthevsamevcross-
sectionalvunitsvovervavgivenvperiodvofvtimevwhilevavpooledvdatavsetvconsistsvofvdatavonvdifferentvcross-
sectionalvunitsvovervavgivenvperiodvofvtime
c. Avpanelvdatavconsistsvofvdatavonvavsinglevvariablevmeasuredvatvavgivenvpointvinvtimevwhilevavpooledv
datavsetvconsistsvofvdatavonvthevsamevcross-sectionalvunitsvovervavgivenvperiodvofvtime.
d. Avpanelvdatavsetvconsistsvofvdatavonvavsinglevvariablevmeasuredvatvavgivenvpointvinvtimevwhilevavpooledv
datavsetvconsistsvofvdatavonvmorevthanvonevvariablevatvavgivenvpointvinvtime.

14. hasvavcausalveffectvonv .
a. Income;vunemployment
b. Height;vhealth
c. Income;vconsumption
d. Age;vwage

15. Whichvofvthevfollowingvisvtrue?
a. Avvariablevhasvavcausalveffectvonvanothervvariablevifvbothvvariablesvincreasevorvdecreasev
simultaneously.
b. Thevnotionvofv‘ceterisvparibus’vplaysvanvimportantvrolevinvcausalvanalysis.
c. Difficultyvinvinferringvcausalityvdisappearsvwhenvstudyingvdatavatvfairlyvhighvlevelsvofvaggregation.
d. Thevproblemvofvinferringvcausalityvarisesvifvexperimentalvdatavisvusedvforvanalysis.

16. Experimentalvdatavarevsometimesvcalledvretrospectivevdata.vF
17. Anveconomicvmodelvconsistsvofvmathematicalvequationsvthatvdescribevvariousvrelationshipsvbetweenv
economicvvariables.vT

18. Avcross-sectionalvdatavsetvconsistsvofvobservationsvonvavvariablevorvseveralvvariablesvovervtime.vF
19. Avtimevseriesvdatavisvalsovcalledvavlongitudinalvdatavset.v T

20. Thevnotionvofvceterisvparibusvmeansv“othervfactorsvbeingvequal.”vT




Chapterv2

1. Avdependentvvariablevisvalsovknownvasva(n)v .
a. explanatoryvvariable
b. controlvvariable
c. predictorvvariable
d. responsevvariable