Suppose that you want to examine whether income elasticity of consumption is different for males and females while controlling for age, education level and marital status of respondents. In the model,...

Suppose that you want to examine whether income elasticity of consumption is different for males and females while controlling for age, education level and marital status of respondents. In the model, you should include:

• Quadratics of log(income)


• None of them


• An interaction term of income with a dummy variable representing gender status


• An interaction term of log(income) with age.


• An interaction term of log(income) with a dummy variable representing gender status