TABLE 14-3
an Economist Is Interested to See How $\text {SUMMARY OUTPUT}$

question 62

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.
$\text {SUMMARY OUTPUT}$

$\begin{array}{lc}\hline \text { Regression Statistics } \\\hline \text {Multiple R} & 0.991 \\ \text {R Square }& 0.982 \\ \text {Adjusted R Square }& 0.976 \\ \text {Standard Error }& 0.299 \\ \text {Observations }& 10 \\\hline\end{array}$

ANOVA
$\begin{array}{lrrrrr}\hline & \text { d f}& \text { SS } & \text {MS } & \text { F } & \text {Significance F } \\\hline \text { Regression} & 2 & 33.4163 & 16.7082 & 186.325 & 0.0001 \\ \text {Residual }& 7 & 0.6277 & 0.0897 & & \\ \text {Total} & 9 & 34.0440 & & & \\\hline\end{array}$


$\begin{array}{lcccr}\hline & \text {Coefficients} & \text { Standard Error} & \text { t Stat }& \text { p -value} \\\hline \text {Intercept }& -0.0861 & 0.5674 & -0.152 & 0.8837 \\ \text {GDP} & 0.7654 & 0.0574 & 13.340 & 0.0001 \\ \text {Price }& -0.0006 & 0.0028 & -0.219 & 0.8330 \\\hline\end{array}$

-Referring to Table 14-3, to test whether gross domestic product has a positive impact on consumption, the p-value is

• A) 0.0001.
• B) 0.9999.
• C) 0.99995.
• D) 0.00005.

Appreciate the role of diversity training in enhancing organizational culture and promoting effective management of a diverse workforce.

Understand the characteristics of a multicultural organization and the importance of including diverse groups in decision-making processes.

Understand the concept of economies and diseconomies of scale.

Calculate total, variable, and marginal costs based on given data.

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Definitions:

Theories of Consumption

Refers to various frameworks for understanding how and why individuals or societies engage in buying, using, and disposing of goods and services.

Marxist Tradition

A body of thought derived from the works of Karl Marx, focusing on the role of class struggle in societal change and development.

Institute of Social Research

A research organization affiliated with a university, focusing on the analysis and understanding of social structures and processes.

Frankfurt School

A group of mid-20th century thinkers who combined Marxist critical theory with psychoanalysis to analyze the cultural and societal changes in capitalist societies.