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

question 225

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,when the economist used a simple linear regression model with consumption as the dependent variable and GDP as the independent variable,he obtained an r² value of 0.971.What additional percentage of the total variation of consumption has been explained by including aggregate prices in the multiple regression?

• A)98.2
• B)11.1
• C)2.8
• D)1.1

Understand the relationship between efforts expended toward a goal and subsequent changes in attitude or perception.

Realize the impact of social interactions and interventions on reducing negative attitudes or stereotypes.

Understand the changing attitudes toward gender roles and discrimination.

Analyze the influence of social and physical differences on gender identity and relations.

---

Definitions:

Mass Customization

A manufacturing technique that combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.

Mass Production

The manufacture of large quantities of standardized products, often using assembly lines or automated technologies, to achieve economies of scale.

Ford's Strategy

Refers to the business strategies implemented by the Ford Motor Company, often focusing on manufacturing innovations, market positioning, and sustainability efforts.

Broadband Fiber-Optic

A high-speed internet access technology that transmits data through light signals over fiber optic cables, offering faster speeds compared to traditional broadband.