**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

**Answer:**1

10. Question: If A where is A hat or cap What is

**Answer:**an estimated parameter of A