Part 3: Directions: Choose 2 out of 3 questions. (12.5 pts each) 1. You want to study the effect of extra sleep on college students' GPAs. What would be your dependent variable? What would be 3 independent variables you would use? Explain why the assumption of ceteris paribus is important when you create this model. 2. Identify a resource that we commonly use that is free. 3. Draw a PPC for a country that produces a lot more Y than X. Then show on your graph what would happen if a new technology is introduced into the economy that increases the productivity of making X but has no effect on making Y