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

question 192

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 gross domestic product has a positive impact on consumption, the p-value is

• A) 0.00005.
• B) 0.0001.
• C) 0.9999.
• D) 0.99995.

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Definitions:

Product Innovation

The process of creating new or significantly improved products, enhancing their features, functionality, or design to meet consumer needs or open new markets.

Product Positioning

The process of determining the place a product occupies in consumers' minds relative to competing offerings, focusing on perceptions, impressions, and benefits.

Cost-Volume-Profit Analysis

An accounting methodology used to estimate the impact of varying levels of costs and volume on operational profit.

Manufacturing Firm

A business that produces goods in large quantities using raw materials, components or parts, and machinery, often within a factory setting.