A) Given the Eviews Printout Below, Did the Chicken Come

Essay

A) Given the Eviews printout below, did the chicken come before the egg? Explain how you know.
Pairwise Granger Causality Tests
Sample: 19511994
Lags: 2
$\begin{array}{lccc}\hline \hline \text { Nul1 Hypothesis: } & \text { Obs } & \text { F-Statistic } & \text { Probability } \\\hline \hline \text { CHICK does not Granger Cause EGG } & 42 & 12.55461 & 0.17900 \\\text { EGG does not Granger Cause CHICK } & & 0.09849 & 0.04644 \\\hline\end{array}$
B) Are the first differences of M1 (FDM1) stationary? Using the Eviews printout below, show the 5-step procedure. $$\begin{array}{l}\begin{array} { l l l l } \text { ADF Test Statistic } & - 0.615077 & 1 \% \text { Critical Value* } & - 3.7667 \\&& 5 \% \text { Critical Value } & - 3.0038 \\&& 10 \% \text { Critical Value } & - 2.6417 \\\hline \hline\end{array}\\\text { Unit root test on FDM1. }\end{array}$$