The First Difference of the Logarithm Of $Y _ { t }$

question 12

Multiple Choice

The first difference of the logarithm of $Y _ { t }$ equals

• A) the first difference of Y .
• B) the difference between the lead and the lag of Y .
• C) approximately the growth rate of Y when the growth rate is small.
• D) the growth rate of Y exactly.

---

Definitions:

Philippines

An archipelagic country in Southeast Asia, consisting of more than 7,000 islands, known for its diverse culture and history as a former Spanish then American colony.

American Liberty

The set of freedoms and rights considered to be a fundamental attribute of the United States, including freedom of speech, religion, and the pursuit of happiness.

Platt Amendment

was a 1901 amendment to the Cuban Constitution that allowed the United States to intervene in Cuba's affairs and also established a permanent American naval base in Guantanamo Bay.

Vocational Training

Education that prepares individuals for specific trades, crafts, and careers at various levels from a trade, a craft, technician, or a professional position.