Set a hypothesis for the effect of each independent variable on the dependent  variable (i.e., a total of four hypotheses). Explanations / Theories / Intuitions should be  provided to justify each hypothesis.  Dependent variable: Imports of goods and services as a percentage of GDP independent variable: Population ages Inflation consumer prices Unemployment% Agriculture, forestry, and fishing value-added

Obtain a time-series of minimum of 35 observations, for three variables of your own choice of country from world development indicators (WDI) data source. However, the choice of variables should be guided by an economic model from Macroeconomics. These variables should be representing an economic model where one variable (Y) is deemed to be dependent on the others (Xs are independent variables). Provide full sources and definitions for those series

Please see the attached photo

You are given a sample of 600 working individuals, with data on their location and earnings. You construct the following model: wage=Bo+Binorth+u, where the dependent variable is the annual earnings (wage) in $1,000. The explanatory variable is north (which equals one if a worker lives in the north, and equals zero otherwise). An OLS regression yields B 24.8. B₁ = 2.1. = As we have learned in class, education matters a lot in explaining wages-more years of education lead to higher wages. In the above econometric model, education belongs to the error term, u. We also know that in our population of interest, workers in the north have lower drop-out rates than workers in the south. These facts imply that B₁ is biased and inconsistent because the estimation is subject to omitted variable bias. The correct model should be: wage Bo+Binorth + B₂educ + e, where educ denotes the number of years of education. The OLS estimate of B1 from our incorrect model presented at the beginning of this…

Suppose researchers use observational data to study the effect of class size and teacher experience on student score. Which of the following is a confounding variable? Student score 0000 Family income Class size Teacher experience

__________ looks for underlying patterns in the data by examining the data at a more detailed level in order to examine potential correlations.   Multiple Choice   Summarizing data   Descriptive analytics   Drill-down detailed analytics   Fuzzy matching

Please ensure your response includes an accurate answer along with a thorough explanation and clear calculation. To maintain the integrity of the solution, please do not use ChatGPT or submit handwritten responses. Originality is essential, so avoid any form of plagiarism. A complete and precise answer will be appreciated with an upvote.

Describe the recommended approach towards determining model specification.How does the R2 help in determining an appropriate model? Is theideal model the one with the highest R2? Should a regressor be included in the model if it increases the model R2?

Romer Model Exercise: Consider the Romer model, Y = A,Nyt, AAt+1 Ão = 10,1 = 0.01, z = 0.035, Ñ = 100. ZAĄNat, and parameter values are: (a) What is the growth rate of GDP per capita? What is the per capita GDP at period 60, Yt=60? (b) Suppose at period 60, the number of researchers decrease by 50% permanently. Draw a graph to show the impact. What is the value of per capita GDP, y4=60, now? (c) Suppose now the production function is still Y; = A¿Nyt, but the accumulation of ideas becomes AAt+1 = ZA?$ Nat. What is the growth rate of ideas? (d) Following from (c), what is the growth rate of output per capita at period 1?

Productivity and Related Data, Business Sector 1960–2005 (Index numbers, 1992 =100; quarterly data seasonally adjusted) 1 Output refers to real gross domestic product in the sector.   2 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an estimate of wages, salaries, and supplemental payments for the self-employed.   3 Hourly compensation divided by the consumer price index for all urban consumers for recent quarters. The trend from 1978–2005 is based on the consumer price index research series (CPI–U–RS).Source: Department of Labor, Bureau of Labor Statistics.