--%>
Assignment Help - homework help

Define the Econometric Methods

Define the Econometric Methods.

E

Expert

Verified

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.

   Related Questions in Managerial Economics

  • Q : Explain the follow-up pricing Explain

    Explain the follow-up pricing.

    		•
  • Q : Learning-by-doing Firms may make use of

    Firms may make use of low prices to enter a market and gain market share therefore is can learn the intricacies of a particular product line or business. It is an illustration of: (1) limit pricing. (2) accommodation. (3) learning-by-

    		•
  • Q : Moral Hazard and Efficiency Wages

    Firing a worker who regularly goods off and calls in sick may not resolve the moral hazard problem of shirking when: (w) there is a high probability which the worker will sue the firm. (x) the local unemployment rate is high. (y) average worker productivity is low. (z

    		•
  • Q : Negatively bending Labor Supplies An

    An individual’s labor supply curve is negatively sloped that is backward-bending into a range of wages while the: (i) demand for goods exceeds the demand for leisure. (ii) worker offers more hours of labor while the wage rate in

    		•
  • Q : Specific Training by Human Capital A

    A firm which provides its workers along with substantial exact training tends to: (i) pay such individuals premium wages to try to make sure retaining these workers. (ii) require workers to sign legal contracts of peonage and indenture. (iii) increase

    		•
  • Q : Illustrates the important leading

    Illustrates the important leading indices?

    		•
  • Q : Hiring additional workers exceeds the

    One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x

    		•
  • Q : Accurate ranking in most elastic labor

    When we try to list labor supplies from least elastic to most elastic, in that case the most accurate ranking would most likely be: (1) competitive firm, minute industry, highly skilled occupation. (2) economy, skilled occupation, competitive firm wit

    		•
  • Q : Attempt Screening and Signaling

    Screening and signaling are attempts to: (w) decreases job interview time. (x) decrease the problem of adverse selection. (y) uphold equal opportunity laws. (z) All of the above. I need a good answer on the topic o

    		•
  • Q : Introduction of the term P-V ratio Give

    Give a brief introduction of the term P/V ratio and Contribution?

    		•