Consider the following estimated model for the year 2010: In(GDP pe;) = 9.83 (1.10) 3.26 Africa;...
Consider the following estimated model for the year 2010: In(GDP pe;) = 9.83 (1.10) 3.26 Africa; + 1.44 Europe;. (1.58) (0.66) where the variable "GDP pe" denotes GDP per capita. The dummy variables Africa=1 if the country is in Africa and 0 otherwise, and Europe=1 if the country is in Europe and 0 otherwise. What is the difference between In(GDP pc) of Europe and Africa on average? a. 6.57. b.4.70. O c. 9.83. d. 8.01. e. 8.39.