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

question 276

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, to test whether aggregate price index has a negative impact on consumption, the p-value is

• A) 0.0001.
• B) 0.4165.
• C) 0.8330.
• D) 0.8837.

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Definitions:

User Cost

User cost comprises the costs associated with the use of a product or service, including wear and tear, maintenance, and the opportunity cost of forgone alternatives.

Extract

To remove or obtain a substance from a source through a process.

Resource

An asset or input used to produce goods and services, such as labor, capital, land, and knowledge.

Nonrenewable Resource

A natural resource that cannot be readily replaced by natural means at a quick enough pace to keep up with consumption.