Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 20, Problem 31CTQ
As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?
Expert Solution & Answer
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Students have asked these similar questions
Suppose you are working as a manager of an organic grocery store and want to analyze how
income affects grocery spending.
In the dataset, grocery_spending measures the amount spent on groceries in dollars,
and income represents individual income, also measured in dollars. The following
regression results present estimates from two different specifications.
reg grocery_spending income
Source
SS
df
MS
Model
Residual
20685432.5
29227282.9
1 20685432.5
9,998 2923.31295
Number of obs =
F(1, 9998)
Prob > F
R-squared
=>
10,000
7076.02
0.0000
Total
49912715.4
9,999 4991.77071
Adj R-squared =
Root MSE
=
0.4144
54.068
grocery_sp~g
Coefficient Std. err.
t
P>|t|
[95% conf. interval]
income
_cons
0033984 .0000404 84.12
2113.24 1.144063 1847.14
0.000
0.000
.0033192
2110.998
.0034776
2115.483
⚫ gen Inincome-In (income)
.reg grocery_spending Inincome
Source
SS
df
MS
Number of obs = 10,000
Model
Residual
24748934.7
25163780.7
9,998
1 24748934.7
2516.88144
F(1, 9998)
Prob > F
R-squared
=
9833.17
"
=…
Both the level-level and level-log regression models presented above use the same number of observations. What does this suggest about the variables used in each model?
Calculate the R-squared value for the missing section. (Round totwo decimal places. You do not need to show your work.) Based on this answer, which model specification provides a better fit to the data? Why?
On the level-level model specification, what is the null hypothesiswe would like to reject? Briefly describe the null hypothesis in words.
Chapter 20 Solutions
Principles of Economics 2e
Ch. 20 - Explain what the Industrial Revolution was and...Ch. 20 - Explain the difference between property rights and...Ch. 20 - Are there other ways in which we can measure...Ch. 20 - Assume there are two countries: South Korea and...Ch. 20 - What do the growth accounting studies conclude are...Ch. 20 - What policies can the government of a free-market...Ch. 20 - List the areas where government policy can help...Ch. 20 - Use an example to explain why, after periods of...Ch. 20 - Would the following events usually lead to capital...Ch. 20 - What are the advantages of backwardness for...
Ch. 20 - Would you expect capital deepening to result in...Ch. 20 - Why dues productivity growth in high-income...Ch. 20 - How did the Industrial Revolution increase the...Ch. 20 - How much should a nation be concerned if its rate...Ch. 20 - How is GDP per capita calculated differently from...Ch. 20 - How do gains in labor productivity lead to gains...Ch. 20 - What is an aggregate production function?Ch. 20 - What is capital deepening?Ch. 20 - What do economists mean when they refer to...Ch. 20 - For a high-income economy like the United States,...Ch. 20 - List some arguments for and against the likelihood...Ch. 20 - Over the past 50 years, many countries have...Ch. 20 - Labor Productivity and Economic Growth outlined...Ch. 20 - Change in labor productivity is one of the most...Ch. 20 - Refer back to the Work It Out about Comparing the...Ch. 20 - Education seems to be important for human capital...Ch. 20 - Describe some of the political and social...Ch. 20 - Why is investing in girls education beneficial for...Ch. 20 - How is the concept of technology, as defined with...Ch. 20 - What sorts of policies can governments implement...Ch. 20 - As technological change makes us more sedentary...Ch. 20 - An economy starts off with a GDP per capita of...Ch. 20 - An economy starts off with a GDP per capital of...Ch. 20 - Say that the average worker in Canada has a...Ch. 20 - Say that the average worker in the U.S. economy is...
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