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109
1. (General Question) This article can be divided into five sections. The paragraph divisions for sections I
and II and the sub-titles for sections I and V are given below. Fill in the missing paragraph numbers and sub-
titles.
I. Term «Econometrics» Introduced 1
II.___________________________ 2
III.__________________________ __
IV.__________________________ __
Current Status of Econometrics __
2. Fill in the empty spaces in the table below, giving date, name, and contribution to the history of
econometrics.
Date
Name
Contribution to the history of Econometrics
Recherches sur les principes mathematiques de la
theorie de richesse
Lawrence
Klein
1930s
3.
What caused Jan Tinberg to develop his theory?
a.
the research ofAugustin Coumot
b.
the depression of the 1930"s
c. the interdependence of economic variables
d. the effects of other economic systems on our own
4.
What word in the text means the same as «factors»
(1.21)?________
5. Between the following phrases, insert the best mathematical symbol to reflect the meaning of the phrase
beginning on 1.37-39, «how a given change.....consumption.»
5.
Klein's econometric model contains over 1,000 variables because
a.
there are 1,000 significant variables in economics
b.
the validity of the model depends upon its completeness
c.
the model attempts to forecast the economy of the entire world.
d. the validity of econometrics has been questioned
6.
In paragraph 6, Reynolds gives a definition of econometrics.
In what earlier paragraph has he also given a definition of econometrics? ____
8. The example of Business Week publishing Klein's forecasts (11.53) is meant to show that
9. The current opinion of econometrics held by the experts is that
a.
it contains over 1,000 variables
b.
it is valid for forecasting economic changes