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True, False, or Uncertain. Please Provide Explanations!
(a) In a probit /logit model, the marginal effects of regressor j is defined as ΔP(Y=1|X)/ΔX_j . The marginal effect is dependent on X, and therefore, it is difficult to place a useful interpretation on Beta hat alone.
(b) As a simple diagnostic one can estimate OLS in data with a binary response variable, construct a histogram of the residuals, and compare their distribution to a normal or logistic to decide whether to use probit or logit.
(c) The major flaw of the linear probability model is that the actuals can only be 0 and 1, but the predicted are almost always different from that.
(d) The problem of whether being a female has an effect on earnings could be analyzed using probit and logit estimation (i.e. in a wage regression that includes a gender dummy, we use a probit model to analyze whether being a female has an effect on earnings).
Show how to generate a supply and demand function from a information table that includes the supply and demand information for two different price levels.
1.economic growth .is driven by growth of technology growth of labor and growth of capital.is driven primarily by
When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.
Basic economic facts about modern society
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A key year for them is 2015, when Southeast Asia's Open Sky Agreement comes into effect, allowing unlimited flights to all 10 ASEAN members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
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