The figure above shows the log of UK real GDP per capita between 1875 and1914. Which of the following is correct?Log of Real GDP per capita10,510,09,59,08,58,07,518751890506119201935195019651980y=0,0156x +7,7734R²=0,9445119952010O The growth of GDP in the 1950s was above the long-runaverage.O The growth of GDP in the 1880s was above the long-run average.In the figure the coefficient on x is 0.0156 and tells us the slope of the regression line (lineof best fit). If, instead, this were 0.02 the line would be flatter.● The slope of the blue line tells us the rate of growth of per capita GDP but can tell usnothing about the level.

The term GDP represents "Gross Domestic Product." It is a crucial economic metric for evaluating the…

Answered: The figure above shows the log of UK…

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The figure above shows the log of UK real GDP per capita between 1875 and 1914. Which of the following is correct?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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