1. Various properties of natural logarithms (a) Suppose variable x increases from 200 to 204 . (i) Compute the proportionate change in x. (ii) Compute the change in lnx and compare to your answer in (i). (b) The U.S. economy grew by 3% per year for many years. At this rate, approximately how many years did it take for the U.S. economy to double in size? (c) Suppose we have exponential growth with y501.04t. If we regress lny on an intercept and t, what estimates do you expect to obtain for the intercept and slope coefficients? Explain. 1. Various properties of natural logarithms (a) Suppose variable x increases from 200 to 204 . (i) Compute the proportionate change in x. (ii) Compute the change in lnx and compare to your answer in (i). (b) The U.S. economy grew by 3% per year for many years. At this rate, approximately how many years did it take for the U.S. economy to double in size? (c) Suppose we have exponential growth with y501.04t. If we regress lny on an intercept and t, what estimates do you expect to obtain for the intercept and slope coefficients? Explain