Which of the following is the first step in empirical economic analysis?
A) Collection of data
B) Statement of hypotheses
C) Specification of an econometric model
D) Testing of hypotheses
Correct Answer:
Verified
Q15: Which of the following is true of
Q16: Econometrics is the branch of economics that
Q17: The constants of econometric models are referred
Q18: The term 'u' in an econometric model
Q19: An empirical analysis relies on _ to
Q21: Why do labor economists often find it
Q22: A cross-sectional data set consists of observations
Q23: Random sampling complicates the analysis of cross-sectional
Q24: An economic model consists of mathematical equations
Q25: In the following econometric model, wage =
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