For U.S. consumers, the income elasticity of demand for fruit juice is 1.1. If the economy enters a recession next year and consumer income declines by 2.5%, what is the expected change in the quantity of fruit juice demanded next year?

GDP handles household production by

A) estimating a dollar value of the goods purchased to do housework. B) ignoring it. C) including it in real GDP but not in nominal GDP because there are no prices paid for the work. D) estimating a dollar value of the services provided. E) including it in exactly the same way that all other production is included.

The class of linear conditionally unbiased estimators consists of

A) all estimators of ?1 that are linear functions of Y1,…, Yn and that are unbiased, conditional on X1,…, Xn . B) OLS, WLS, and TSLS. C) those estimators that are asymptotically normally distributed. D) all estimators of ?1 that are linear functions of X1,…, Xn and that are unbiased, conditional on X1,…, Xn.