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A. Questions/Short Answers (20 points)

1. What is the difference between macroeconomic forecasting and microeconomic forecasting?

2. What is the difference between a sample variance and a population variance?

3.What is the difference between a linear model and a multiplicative model? Give an example of each model.

4. What is the difference between a single-equation model and a multiple-equation model?

5. Distinguish among correlation coefficient, r-square, t statistic and F statistic.