How Do You Interpret the Estimated Value Of $\gamma$ ₂ in the Following Equation: Ln(ENT_EXP)=

question 4

Multiple Choice

How do you interpret the estimated value of $\gamma$ ₂ in the following equation: ln(ENT_EXP) = $\gamma$ ₁ + $\gamma$ ₂ (INCOME) + e
Where INCOME is annual household income (in thousands) and ENT_EXP is annual entertainment expenses?

• A)the income elasticity of entertainment
• B). )when multiplied by 100 it is the percentage increase in entertainment expenses associated with an additional $1000 in income
• C)the increase in entertain expenses associated with a 1% increase in income
• D)the average of the logarithm of entertainment expenses for a household with zero income

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Post-Structuralism

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