Multiple Choice Economics
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The presence of autocorrelation leads to all of the following undesirable consequences in the regression results except:
a the least-squares estimates of the regression coefficients will be biased
b the t-statistics may yield incorrect conclusions concerning the significance of the individual independent variables
c overall measures of the goodness-of-fit and explanatory power of the regression model (such as r-square and F-tests)will no longer provide reliable information as to the significance of the economic relationship
d the least-squares procedure will tend to underestimate the sampling variances of the estimates of the regression coefficients
e both a and b
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