CoursHeroTranscribedText: In studying the movement in the production workers' share in the value added (i.e., labor's share), the following models were considered by Gujarati:* Model A: Yt = Bo + Bit + ut Model B: Yt = do + alt+ atz + utwhere Y = labor's share and = time. Based on annual data for 1949-1964, the following results were obtained for the primary metal industry: Model A: , = 04529 0.0041z R>=0.5284 d=0.8252 (3.9608) Model B: , =0.4786 0.0127+ 0.00057 (=3.2724) (2.7777) R2=06629 d=182 where the figures in the parentheses are ratios. a. Is there serial correlation in model A? In model B? b. What accounts for the serial correlation? c. How would you distinguish between "pure" autocorrelation and specification bias? C