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In 1982, the total expenditure of the government of Kargenia, a European country, exceeded its revenue by a substantial amount. This forced the government of Kargenia to borrow funds to meet its legal obligations. In this scenario, the government of Kargenia incurred a _____ in 1982.
Durbin-Watson Statistic
A statistical measure employed to identify if there is autocorrelation at the first lag within the residual values following a regression analysis.
Positive Autocorrelation
A situation in which the errors in a regression model are positively correlated, meaning that a positive error in one period is likely to be followed by a positive error in the next.
Multicollinearity
A situation in regression analysis where independent variables are highly correlated, making it difficult to estimate individual regression coefficients accurately.
Regression Coefficients
Regression coefficients are values that quantify the relationship between independent variables and a dependent variable in regression analysis.
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