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1. What are the two roles that prices play in a competitive economy? How are these two roles related to the Fundamental Theorems of Welfare Economics? 2. The Undercover Economis
Assume the following table gives the joint PDF (probability distribution function, not Adobe document!!) of two discrete variables, x and Y. Vari
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Popularity vs. True Quality What determines the popularity of YouTube videos? Are the most viewed videos really the ones people like the most? What drives people choose certain
Show which of the following are cross-section data, giving the reasons. (i) Wages of individual workers in the UK chemical industry in 2009. (ii) Annual growth rates of eve
Suppose that the aggregate demand curve in a particular year is given by the algebraic expression: Y = 3000 + 1000/P, where Y is the aggregate output and P is t
function its types
when is an econometric model said to be simple and naive
Probelm: (a) Differentiate between homoscedasticity and heteroscedasticity. (b) Outline the reasons why the variances of disturbance term may vary. (c) Given the 3 observ
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