Multiple Choice
The elasticity of demand for gasoline has been estimated to be -2.0, and the standard error is 0.25.The t-statistic for the estimated elasticity of demand for gasoline is
A) -8, indicating a statistically significant elasticity estimate at the 95% confidence level.
B) -0.5, indicating a statistically insignificant elasticity estimate at the 95% confidence level.
C) 8, indicating a statistically insignificant elasticity estimate at the 95% confidence level.
D) 0.5, indicating a statistically significant elasticity estimate at the 95% confidence level.
Correct Answer:
Verified
Correct Answer:
Verified
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