Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 32, Problem 33P
Using the research skills you have acquired, retrieve the following data from The World Bank database (http://databank.worldbank.orgdata home.aspx) for India, Spain, and South Africa for
• Telephone lines
• Mobile cellular subscriptions
• Secure Internet servers (per one million people)
• Electricity production (kWh)
Prepare a chart that compares these three countries. Describe the key differences between the countries.
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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 32 Solutions
Principles of Economics 2e
Ch. 32 - Using the data in Table 32.3, rank the seven...Ch. 32 - What are the drawbacks to analyzing the global...Ch. 32 - Create a table that identifies the macroeconomic...Ch. 32 - Use the data in the text to contrast the policy...Ch. 32 - What are the different policy tools for dealing...Ch. 32 - Explain how the natural rate of unemployment may...Ch. 32 - How does indexing wage contracts to inflation help...Ch. 32 - Use the AD/AS model to show how increases in...Ch. 32 - Show, using the AD/AS model, how governments can...Ch. 32 - What do international flows of capital have to do...
Ch. 32 - Use the demand-and-supply of foreign currency...Ch. 32 - What is the primary way which economists measure...Ch. 32 - What are some of the other ways of comparing the...Ch. 32 - What are the four other factors that determine the...Ch. 32 - What other factors, aside from labor productivity,...Ch. 32 - What strategies did the East Asian Tigers employ...Ch. 32 - What are the two types of unemployment problems?Ch. 32 - In low-income countries, does it make sense to...Ch. 32 - Is inflation likely to be a severe problem for at...Ch. 32 - Is inflation likely to be a problem for at least...Ch. 32 - What are the major issues with regard to trade...Ch. 32 - What are the major issues with regard to trade...Ch. 32 - Demography can have important economic effects....Ch. 32 - Explain why is it difficult to set aside funds for...Ch. 32 - Why do you think it is difficult for high-income...Ch. 32 - Is it possible to protect workers from losing...Ch. 32 - Explain what will happen in a nation that tries to...Ch. 32 - Why are inflationary dangers lower in the...Ch. 32 - Explain why converging economies may present a...Ch. 32 - Retrieve the following data from The World Bank...Ch. 32 - Prepare a chart that compares India, Spain, and...Ch. 32 - Use the Rule of 72 to estimate how long it will...Ch. 32 - Using the research skills you have acquired,...Ch. 32 - Retrieve the unemployment data from The World Bank...Ch. 32 - Retrieve inflation data from The World Bank data...
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