Question: The second column in the data table includes information for the real Gross National Product (Real GNP) in USA over the period 2000-2014. (a) Calculate

The second column in the data table includes information for the real Gross National Product (Real GNP) in USA over the period 2000-2014.

I Urban Area Rural Area 1 2 3 3500 2600 500 1600

(a) Calculate the growth rate of Real GNP in every year. It is given that Real GNP growth rate = (RealGNPt - RealGNPt-1) / RealGNPt-1. Alternatively, you could aslo use: RealGNP growth rate = log(RealGNPt) - log(RealGNPt-1. (Note, that the growth rate cannot be calculated for 2000, so the first observation will be missing).

(b) Ho: ?=0 against the alternative H1: ??0.

(d) Ho: ?=0 against the alternative H1: ?>0.

I Urban Area Rural Area 1 2 3 3500 2600 500 1600 2200 960 45 6 7 8 9 10 3200 900 1050 1100 2300 5800 1200 1000 1300 5500 2100 1300 1500 1300

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