Government official proposed which gasoline price controls, Ask an Expert

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Q. Assume you want to estimate the price elasticity of demand for electricity. Using data from 50 countries, you plan to estimate the subsequent equation: ln(elect)i = 1 + 2 ln(price)i + i where elect = electricity consumption per capita also price = standard price of electricity. To ensure which your estimator for 2? is unbiased, illustrate what other regresses do you think should be included? WHY

Q. Last yr a government official proposed which gasoline price controls be imposed to protect the poor from rising gasoline prices. Illustrate what evidence could you consult to discover whether this proposal was enacted?

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