Define the Econometric Methods
Define the Econometric Methods.
Expert
Econometrics:
It is the combination of ‘econo’ and ‘metrics’ that means measurement of economic variables. It combines the economic theory, mathematical model and statistical tools building to analyse economic relations. This predicts the future activity upon past economic activity using statistical and mathematical techniques
a) Econometrics methods are more reliable.
b) This is possible to compare forecasts along with actual results. It can modify to enhance future forecasts.
c) Econometrics methods indicate direction and magnitude both of change in the variables.
d) Econometrics methods have the capability to describe economic phenomena.
Illustrates the term dispersion of phrases of business cycle?
Define naive method and its techniques briefly.
Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l
A purely competitive firm which hires more workers while the value of the marginal product of labor increases above the competitively set wage rate will absolutely experience increases in its: (i) overhead costs. (ii) profit per unit.
Define the some criticized highlight points of Adam Smith?
Illustrates the factors affecting Demand Forecasting?
Illustrates the important areas of managerial economics as a tool for decision making?
Differentiates between short run and long run costs?
Illustrates the different between expert opinion method and trend projection method?
Describe the term Incremental Revenue in details.
18,76,764
1931030 Asked
3,689
Active Tutors
1427471
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!