If Total Output Increases from $1 Trillion to $2 Trillion

question 133

Multiple Choice

If total output increases from $1 trillion to $2 trillion as population increases from 100 million to 200 million, then output per person:

• A)doubles.
• B)increases, but by less than 100 percent.
• C)remains constant.
• D)decreases.

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Definitions:

Intercept

The value of the dependent variable when all independent variables in a regression model are set to zero, representing the model’s starting point.

Least-squares Regression Line

A straight line that best fits the data points in a scatter plot, minimizing the sum of the squares of the vertical distances of the points from the line.

PGA Tour

A professional golf circuit in the United States, featuring the world's top male golfers competing in various tournaments throughout the year.

Degrees Of Freedom

The number of independent values or quantities that can be assigned to a statistical distribution, often relevant in the calculation of statistics like variance.