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Economics

1. A country produces milk and butter, and it has published the following macroeconomic data. Good Milk Butter Year 1 Year 2 Quantity Price Quantity Price 500 2 900 3 2000 1 3000 2 Between Year 1 and Year 2, the percent change in real GDP (based on Year 1 as a base year) was A) 58%. B) 60%. C) 130%. D) 190%.

2 Question 3 1 p Consider a multivariate regression slope coefficient: ß? = Sl_a full B has a ceteris paribus interpretation. It measures how increasing 21 by one unit will affect y, conditional on all other explanatory variables, 22,...,UK. True False
Question 4 1 pts (1) Multivariate model: y = Bo + $121 + B282 (2) Univariate model: y = Bo + B101 (3) B = 1 + B2. where 2 = ïo + 121 In line (3), the term B2Ÿ is known as (select all correct answers ) residual variation confounding heteroskedasticity omitted variable bias Angrist bias

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