# Econ Midterm Essay

1461 words - 6 pages

Question 1
5 out of 5 points

Which of the following will increase (V0), the shareholder wealth maximization model of the firm:
V0∙(shares outstanding) = Σ∞t=1 (π t ) / (1+ke)t + Real Option Value.
Decrease the required rate of return (ke).
Decrease the required rate of return (ke).
Question 2
5 out of 5 points

The primary objective of a for-profit firm is to ___________.
maximize shareholder value
maximize shareholder value
Question 3
5 out of 5 points

The Saturn Corporation (once a division of GM) was permanently closed in 2009. What went wrong with Saturn?
...view middle of the document...

raise the price.
Question 10
5 out of 5 points

Which of the following would tend to make demand INELASTIC?
the proportion of the budget spent on the item is very small
the proportion of the budget spent on the item is very small
Question 11
5 out of 5 points

Suppose we estimate that the demand elasticity for fine leather jackets is ‑.7 at their current prices. Then we know that:
a 1% increase in price reduces quantity sold by .7%.
a 1% increase in price reduces quantity sold by .7%.
Question 12
5 out of 5 points

An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.
one percent; quantity demanded; two percent
one percent; quantity demanded; two percent
Question 13
5 out of 5 points

In regression analysis, the existence of a high degree of intercorrelation among some or all of the explanatory variables in the regression equation constitutes:
multicollinearity
multicollinearity
Question 14
0 out of 5 points

When using a multiplicative power function (Y = a X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the parameters (a, and the b's) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship.
polynomial
double-logarithmic
Question 15
0 out of 5 points

In testing whether each individual independent variables (Xs) in a multiple regression equation is statistically significant in explaining the dependent variable (Y), one uses the:
Durbin-Watson test
t-test
Question 16
5 out of 5 points

In which of the following econometric problems do we find Durbin-Watson statistic being far away from 2.0?
autocorrelation
autocorrelation
Question 17
5 out of 5 points

Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?
Question 18
5 out of 5 points

The use of quarterly data to develop the forecasting model Yt = a +bYt−1 is an example of which forecasting technique?
Time-series forecasting
Time-series forecasting
Question 19
0 out of 5 points

If two alternative economic models are offered, other things equal, we would
tend to pick the one with the lowest R2.
select the model that gave the most accurate forecasts

Question 20
5 out of 5 points

Smoothing techniques are a form of ____ techniques which assume...

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