SCENARIO 13-3 an Economist Is Interested to See How Consumption for an for an Economy

question 242

Multiple Choice

SCENARIO 13-3
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 SCENARIO 13-3, one economy in the sample had an aggregate consumption level of $3 billion, a GDP of $3.5 billion, and an aggregate price level of 125.What is the residual for this data point?

• A)$2.52 billion
• B)$0.48 billion
• C)- $1.33 billion
• D)- $2.52 billion