Question 4 In a study of the relationship between real aggregate consumption and prices in a specific country based on a time series of 104 observations, the following OLS regression function was obtained (standard errors in parentheses), R = 0.12, C = 13.74 + 0.24P, (0.35) SER = 2.85, (1) (0.05) where C, is logarithm of consumption and P is logarithm of price. (a) Is the coefficient on P statistically significant?

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