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

question 312

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 for the significance of the coefficient on gross domestic product, the p-value is

• A) 0.0001.
• B) 0.8330.
• C) 0.8837.
• D) 0.9999.

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Definitions:

Planning

The process of making detailed strategies and decisions about how to achieve a goal or carry out a project effectively.

Coordination

The organization of different elements of a complex body or activity so as to enable them to work together effectively.

Complacency Trap

A situation where a person or organization becomes overly content with their achievements and stops striving for improvement or growth.

Rigidity

The quality of being unable to bend or be forced out of shape; applied to organizations, it often refers to the inflexibility in rules, procedures, and management.