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

question 90

Multiple Choice

SCENARIO 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 Scenario 14-3, to test for the significance of the coefficient on aggregate price index, the value of the relevant t-statistic is

• A) 2.365
• B) 0.143
• C) - 0.219
• D) - 1.960

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Definitions:

Evolutionary

Pertaining to the process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Wilhelm Wundt

A German physiologist and psychologist who is credited with founding experimental psychology as a formal academic discipline.

Functionalism

A theory in psychology that considers mental states and processes to be characterized by their function in the mental system, rather than by their internal constitution.

Information Processing Approach

A psychological framework that considers how humans process, store, and retrieve information, analogous to computer operations.