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Think of at least five examples from economics where theory suggests that the variables involved are cointegrated. For one of these cases, explain how you would test for cointegration between the variables involved and how you could use this information to improve forecasting.
Electric Fan
A fan powered by electricity, used in various applications including cooling systems in vehicles, computers, and as a household appliance for air circulation.
Trapped Air
Air that has become confined within a system or component, often causing operational inefficiency or malfunction.
Cooling System
The system that removes excess heat from an engine and provides heat for the passenger compartment. Components include the coolant, radiator, radiator cap, radiator fan, water jackets, thermostat, hoses, and heater core.
Vacuum Diaphragm
A component in various automotive systems that uses vacuum pressure to actuate or move parts.
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