Author Question: You lose your job and as a result your demand for steak falls. This implies that you consider steaks ... (Read 162 times)

olgavictoria

  • Hero Member
  • *****
  • Posts: 528
You lose your job and as a result your demand for steak falls. This implies that you consider steaks to be a
 a. Complementary good
  b. Normal good
  c. Inferior good
  d. Substitute good

Question 2

When there is multicollinearity in an estimated regression equation,
 a. the coefficients are likely to be small.
  b. the t-statistics are likely to be small even though the R2 is large.
  c. the coefficient of determination is likely to be small.
  d. the problem of omitted variables is likely.
  e. the error terms will tend to have a cyclical pattern.



macagn

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

b

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

For a complete list of videos, visit our video library