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Consider the following regression of natural logged GDP on natural logged Imports for the 25 largest countries in the world based on GDP. Original data
Consider the following regression of natural logged GDP on natural logged Imports for the 25 largest countries in the world based on GDP. Original data are in billions of dollars. What is the interpretation of the estimated slope? ln(GDP) = 2.15 + 0.987ln(Imports) Group of answer choices A one billion dollar increase in imports is associated with a 0.987% increase in GDP. A one billion dollar increase in imports is associated with a 0.987 billion increase in GDP. A one percent increase in imports is associated with a 0.987 billion dollar increase in GDP. A one percent increase in imports is associated with a 0.987% increase in GDP
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