A Statistical Model That Assumes That the Value of a Variable

question 56

Multiple Choice

A statistical model that assumes that the value of a variable at any date depends on its own past values, plus the past values of other variables, plus an error term is known as a

• A)vector autoregression (VAR) model.
• B)univariate time-series model.
• C)structural VAR model.
• D)structural equilibrium model.

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Definitions:

Frustrated Contracts Act

Legislation that addresses situations where a contract, through no fault of the parties involved, cannot be fulfilled.

Deposit

Money prepaid with the provision that the funds are to be forfeited in the event of a breach of contract.

Condition Subsequent

A condition in a contract that, when occurring, can terminate the contract or alter its terms.

Ended by Agreement

A situation where the parties involved decide to terminate a contract or agreement through mutual consent.