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- Unit 7 Practice Questions to be discussed in BBCStudents are expected to attempt the questions before attending the BBC Session.Selected questions will be discussed in the BBC Session.Question 1Suppose production and prices of food and clothing (the only two goods produced in this economy) in 2006 and 2007 are as follows: (base year = 2006)Year Quantity of FoodPrice of FoodQuantity of ClothingPrice of Clothing2006 20 $15 15 $52007 60 $18 30 $6Calculate nominal and real GDP in 2006 and 2007, the GDP deflator and the growth rate in real output.Question 2You have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following…Chegg Home Expert Q&A My solutions Student question Time Left: 00:09:16 Use the data set Home Morloage Disdosure Act Data (HMDA) from the AER package. Subtract 1 from the factor "Was the mortage denied?". Then, eatimate the Inear regression model of paymentsto - income rato on the factor "Was the mortage denied?" ising Ols. Based on these results, the prebabity a mertougo will be denled if the payment - to - income ratio is equal to 2 is a. 1.13 b. 0.107 c. None of these d. 0.52 e. 1.00 Use the data set Home Mortgage Disclosure Act Data (HMDA) from the AER package. Subtract 1 from the factor "Was the mortage denied?". Then, estimate the linear regression model of payments-to-income ratio on the factor "Was the mortage denied?" using OLS. Based on these results, the probability a mortgage will be denied if the payment-to-income ratio is equal to 2 is a. 1.13 Ob.0.87 Oc None of these d.0.52 1.00and Q Por guantity P for aice What is of this curve? (4,6). C2), (S,10) the algebraic farmela
- Zeitler’s Department Stores sells its products online and through traditional brick-andmortarstores. The following parallel coordinates plot displays data from a sample of20 customers who purchased clothing from Zeitler’s either online or in-store. The datainclude variables for the customer’s age, annual income, and the distance from the customer’shome to the nearest Zeitler’s store. According to the parallel coordinates plot, howare online customers differentiated from in-store customers?Can you please answer (Question.4) below?Solve the attachment
- Shifts of Labor Supplv and y. (B) Pick the panel that would best model the following scenario: Working condifions become less pleasart Multiple Choice c A B D Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.3. Boyoung is writing a paper about the effect of Sunday liquor sales on drunk driving. She has panel data on which states allow liquor to be sold on Sunday in which years and wishes to estimate a difference-in-differences model. She writes the following regression equation: Year DUIRate;; = atate +a? + BTreatmentt +yControl;t + Eit i Which of the following changes does Boyoung need to make? a) She should include a constant in the regression equation. b) She should not include controls because they're already accounted for by fixed effects. c) She should include a time trend instead of time-fixed effects. d) None of the above are changes she needs to make.Hand written plz In March 2021, sales of disposable flavored e-cigarettes were 8.25 million devices. The average price was 9.80. It is estimated that when the price increased by 1% per capita, sales of the products decreased by 20%. Given this information, estimate the linear demand for disposable flavored e-cigarettes.