[2008] Topic 2: The Nature and Scope of Econometrics 相关习题

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AIM 1: Explain the methodology of econometrics.

 

1、With respect to the eight steps that make up the methodology of econometrics, which of the following is the final step?

A) Gathering the data.

B) Testing the hypothesis.

C) Estimating the parameters.

D) Making a forecast.

 

[此贴子已经被作者于2009-6-24 14:48:17编辑过]

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1、The correct answer is D

 

All the other steps must be performed satisfactorily before the researcher has a model appropriate for making forecasts.

[此贴子已经被作者于2009-6-24 14:39:39编辑过]

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2、Which of the following correctly identifies and states the first step in the methodology of econometrics?

A) Model the specification.

B) State the hypothesis to test based upon theory of interest.

C) Specify the model.

D) Collect the data.

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2、The correct answer is B

 

The first step is to identify the hypothesis, which the researcher generally wishes to disprove, e.g., the relationship between the quantity consumed and price is zero. The researcher would try to disprove this statement, which allows for the conclusion that price does influence quantity consumed.

[此贴子已经被作者于2009-6-24 14:39:59编辑过]

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3、

Adding an error term to a regression model recognizes that:

A) the model is not deterministic.

B) researchers collect imperfect data.

C) the model is not ever truly correctly specified.

D) the causation of the relationship can go either way.

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3、  The correct answer is A

 

A regression model generally does not determine the dependent variable exactly, i.e., it is not deterministic. One reason for this is that the researcher cannot include all the necessary independent variables in the model.

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4、In the expression representing the results of a sample regression procedure Y_i = b₀ + b₁ × X_i +e_i, which of the following is the most correct statement?

A) The value of “b1” represents the expected change in the independent variable given a unit change in the dependent variable.

B) The value of “b0” represents the expected change in the dependent variable given a unit change in the independent variable.

C) The value of “b1” represents the expected change in the dependent variable given a unit change in the independent variable.

D) The value of “b0” represents the expected change in the independent variable given a unit change in the dependent variable.

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4、  The correct answer is C

 

In the equation, b₁ represents the slope coefficient, which indicates how the dependent variable moves in response to changes to the independent variable.

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5、A dummy variable would best be used to measure the effect of which of the following?

1. The difference in implied volatility from one day to the next.
2. The difference in realized volatility from one day to the next.
3. The volatility of a stock on Mondays compared to that of other days.
4. Changes in a stock’s volatility on option expiration dates compared to other dates.

A) II and III only.

B) I and III only.

C) III and IV only.

D) I and II only.

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5、  The correct answer is  C

 

Changes attributable to a particular condition or day should be tested using a dummy variable.