Introduction to Econometrics

Multiple Answer Question: Econometrics actively uses

• Economic theory

• Statistics

• Physics

• Mathematics

Multiple Answer Question: In the population model Y=β₀+β₁+u, u refers to

• Error term

• Residuals

• Disturbance

• Innovations

Which data type does contain observations in a fixed period of time and from individual units?

• Panel data

• Time series data

• Cross sectional data

• Irregularly spaced data

Multiple Answer Question: Econometrics is based upon the development of statistical methods for

• estimating economic relationships

• creating economic phenomena

• testing economic theories

• evaluating and implementing government and business policy.