Refer to Table 2.2, in which annual macroeconomic data including GDP, CPI, 3-month T-bill rate, prime rate, private consumption, private investment, net exports, and government expenditures from 1960 to 2009 are given. Answer the following questions.

(a) How many observations are in the data set?

(b) How many variables are in the data set?

Table 2.2

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3-month T-bill Prime Private Private Net Goverment rate consumption investment exports expenditures Year GDP CPI rate 1960 2,830.9 29.585 2.88 1961 2,896.9 29.902 2.35 1962 3,072.4 30.253 2.77 1963 3,206.7 30.633 3.16 1964 3,392.3 31.038 3.55 1965 3,610.1 31.528 3.95 1966 3,845.3 32.471 4.86 5.63 1967 3,942.5 33.375 4.31 1968 4,133.4 34.792 5.34 6.31 5.63 2,580.7 2,740.2 1969 4,261.8 36.683 6.67 7.95 2.677.4 1970 4,269.9 38.842 6.39. 7.91 1971 4,413.3 40.483 4.33 5.72 2,844.6 1972 4,647.7 41.808 4.07 5.25 3,019.5 1973 4,917.0 44.425 7.03 8.02 1974 4,889.9 49.317 7.83 10.80 3,142.8 3,169.1 3,214.1 3,393.1 14.86 1975 4,879.5 53.825 5.78 7.86 1976 5,141.3 56.933 4.97 6.84 1977 5,377.7 60.617 5.27 6.82 3,535.9 1978 5,677.6 65.242 7.19 9.06 3,691.8 1979 5,855.0 72.583 10.07 12.67 3,779.5 1980 5,839.0 82.383 11.43 15.27 3,766.2 1981 5,987.2 90.933 14.03 18.87 3,823.3 1982 5,870.9 96.533 10.61 3,876.7 1983 6,136.2 99.583 8.61 1984 6,577.1 103.933 9.52 1985 6,849.3 107.600 7.48 1986 7,086.5 109.692 5.98 1987 7,313.3 113.617 5.78 1988 7,613.9 118.275 6.67 1989 7,885.9 123.942 8.11 1990 8,033.9 130.658 7.49 1991 8,015.1 136.167 5.38 8.46 5,324.2 1992 8,287.1 140.308 3.43 9.93 4,540.4 8.33 4,724.5 8.20 4,870.3 9.32 5,066.6 10.87 5,209.9 10.01 5,316.2 6.25 5,505.7 4.82 1,784.4 1,821.2 4.50 4.50 1,911.2 4.50 1,989.9 4.50 2,108.4 4.54 2,241.8 10.79 12.04 2,369.0 2,440.0 4,098.3 4,315.6 296.5 294.6 332.0 354.3 383.5 437.3 475.8 454.1 480.5 508.5 475.1 529.3 591.9 661.3 612.6 504.1 605.9 697.4 781.5 806.4 717.9 782.4 672.8 735.5 952.1 943.3 936.9 965.7 988.5 1,028.1 993.5 912.7 986.7 111.5 111.5 119.5 119.5 130.1 130.1 136.4 136.4 143.2 151.4 171.6 192.5 143.2 151.4 171.6 192.5 209.3 209.3 221.4 221.4 233.7 233.7 246.4 246.4 263.4 263.4 281.7 281.7 317.9 317.9 357.7 357.7 383.0 383.0 414.1 414.1 453.6 453.6 500.7 500.7 566.1 566.1 627.5 627.5 680.4 680.4 733.4 796.9 878.9 949.3 999.4 999.4 1,038.9 1,038.9 1,100.6 1,100.6 1,181.7 1,181.7 733.4 796.9 878.9 949.3 1,236.1 1,236.1 1,273.5 1,273.5