TABLE 14-3 an Economist Is Interested to See How Consumption for an for an Economy

question 276

Multiple Choice

TABLE 14-3
An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product ($ billions) and aggregate price (consumer price index) . The Microsoft Excel output of this regression is partially reproduced below.
-Referring to Table 14-3, to test whether aggregate price index has a negative impact on consumption, the p-value is

• A) 0.0001.
• B) 0.4165.
• C) 0.8330.
• D) 0.8837.

---

Definitions:

Surplus

Surplus is the situation in which the quantity supplied of a product or service exceeds the quantity demanded, often leading to lower prices.

Equilibrium Interest Rate

The interest rate at which the supply of savings meets the demand for investment funds in a market, leading to an economic balance.

Nara Period

A period in Japanese history (710-794 AD) known for its cultural and artistic achievements, including the establishment of Buddhism as a state religion and the construction of the Todai-ji temple.

Buddhist Dignitaries

High-ranking Buddhist monks or officials who play significant roles in religious ceremonies and governance of Buddhist institutions.