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WorksheetsBasic concepts in Econometrics
Total questions: 10
Worksheet time: 3mins
A dependent variable is also known as a(n):
Explanatory variable
Regressor
Response variable
Exogeneous variable
Econometrics is a combination of
Economy and Mathematics
Economy, Mathematics and Statistics
Measurement in Economy
Economy and Statistics
In the equation Y=β0+β1X+u , β1 is the
intercept
slope
explanatory variable
error term
Weather records, economic indicators and patient health evolution metrics are all
time series data
cross-sectional data
panel data
missing data
The error term u in an econometric model is usually referred to as
error or disturbance term
sample error
residual
observable variable
Models involving lagged variables are known as
simultaneous-equation models
linear models
static models
dynamic models
The error term of a regression model may well represent
errors of measurement
all other factors that influence the dependent variable but that have not been included in the model
the wrong selection of the functional form
(all the answers are correct)
A variable measured at a particular point of time is a
flow variable
lagged variable
stock variable
independent variable
The diagnostic checking step consists of
studying the Economic adequacy of the model
studying the Statistics adequacy of the model
testing if the model achieves the objectives established at the beginning
using the model for simulation
What is the first step in the Econometric methodology?
Specification
Estimation
Diagnostic checking
Validation
