TABLE 13-3 an Economist Is Interested to See How Consumption for an for an Economy

question 123

Multiple Choice

TABLE 13-3
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 13-3, to test for the significance of the coefficient on aggregate price index, the p-value is ________.

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

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Definitions:

Sufficient Competition

A market situation where there are enough participants to ensure efficient and competitive pricing.

Output

The amount of goods or services produced by a company, industry, or economy within a specified period.

Legal Restrictions

Rules and regulations imposed by law that limit or define the actions individuals or organizations can perform.

Intensity of Competition

The degree of rivalry among firms in a particular market, heavily influencing their pricing, marketing, and product development strategies.