ECO355 NOUN TMA Past Questions & Answers


1. Question: Econometrics is the combination of mathematics and statistics
Answer: economic thoughts

2. Question: Econometrics is accorded a special field of study in economic studies because it
Answer: empirically validates economic theories

3.Question: In an economic model the parameter on the left-hand side of the equation is called
Answer: outcome variable

4. Question: 0 1 in econometrics indicates that
Answer: the change in the dependent variable as a result of the change in the independent variable is greater than zero but less than 1

5. Question: In a demand function where Qd F P price P is
Answer: independent variable

6. Question: In an econometric study the model S p is
Answer: deterministic

7. Question: If an error term u is included in an economic equation it means the equation is
Answer: stochastic

8. Question: An error term in an economic model indicates
Answer: factors affecting dependent variable, not in the model

9. Question: If Qd 1 2 p u the intercept in this equation is

10. Question: If A where is A hat or cap What is
Answer: an estimated parameter of A