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14. What are the consequences of ignoring or failing to recognize serial correlation?a.) biased, but consistentb.) unbiased, but no longer BLUEc.) unbiased, but no longer lineard.) biased, but with minimum varianceAns: bLevel: ModerateSection: 9.515. Which of the following is NOT true of Newey-West standard errors?16. Which of the following is NOT a reason nonlinear least squares is used to estimate anAR(1) model?17. Using the notation ARDL(p,q) what does p represent?
18. Using the notation ARDL(p,q) what does q represent?a.) the number of lagged dependent variables included as explanatory variablesb.) the number of lagged explanatory variables includedc.) the frequency of the time seriesd.) the degree or integration in the error termAns: bLevel: EasySection: 9.619. Which of the following is not a valid criterion for choosing p and q in an ARDL model?