An Economist Might Be Hired to Answer Which of the Following

question 110

Multiple Choice

An economist might be hired to answer which of the following questions?

• A)What will the price of oil be next year? 
• B)Why is the median income of women about half the median income of men? 
• C)How much will interest rates change as the federal deficit decreases? 
• D)How much will inflation change if import restrictions are imposed? 
• E)All of the above are correct.

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Definitions:

Unbiasedness

A statistical property indicating that an estimator or methodology does not systematically favor certain outcomes over others.

Sample Variance

The measure of variability in a sample dataset, calculated as the sum of squared deviations from the mean, divided by the number of observations minus one.

Population Variance

A measure of how data points in a given population are dispersed from the average value.

Unbiased Estimator

A statistical estimator whose expected value is equal to the true parameter of the population being studied.