Saving Function

 

 

I’m working on a economics question and need an explanation to help me study.

Suppose you are employed by the Central Bank and given the task to analyze saving behavior of the country. A researcher obtained the following regression results by using time series data with 92 observations. S= total savings, YD= disposable income, IR= interest rate
Model 1: S = -2.5 + 0.15YD R-squared=?
(-3.7) (75.2)
Model 2: S= -3.2 + 0.15YD + 1.2IR , R-squared=0.987
(-4.8) (59.5) (7.53)
Model 3: S= -1.91 + 0.08YD – 0.081S2 +0.0006S3 – 0.00002S4 , R-squared=0.996 SSR = 47.54
(-6.1) (44.5) (-9.5) (8.11) (-0.7)
Model 4: S= -2.44 + 0.11YD -0.042S2 , R-squared=0.914 SSR = 57.54
(-2.1) (33.3) (1.7)
a) Can you compute the R-squared of Model 1? If YES, provide the answer. If NO, explain what additional information you would need?
b) Discuss the economic intuition for the choice of independent variables in Model 2. Is the sign of estimated coefficients consistent with economic theory? Are the estimated relationships statistically meaningful?
c) Can you test the hypothesis that sum of slope coefficients in Model 2 is equal to 2 at 10% significance level? If YES, provide the answer. If NO, explain what additional information you would need?
d) Why do you think the researcher estimated multiple models? Which model should the researcher choose to work with? Explain your answer.
e) The president of the Central Bank thinks that marginal propensity to save (MPS) for the country should be at 27% level. Do the results above support this argument?

 

 

Sample Solution

 

 

 

 

 

Philippine Food Culture Essay

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Philippine food culture is an impression of the nation’s unpredictable past highlighted by three centuries of Spanish colonization and fifty years of the American principle. In addition, it felt the impact of exchange with China and Malaysia on the grounds that the nation was a significant feast and shipping lane. Notwithstanding it, Philippine food was influenced by its geological area and atmosphere. Therefore, Philippine cooking is a combination of three societies – Spanish, Asian, and American – affected by tropical and subtropical atmosphere and ocean vicinity. Nonetheless, it is the thing that makes it much all the more intriguing.

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Philippine culture is a culture of celebrations known as holiday. One of the specificities of these celebrations is that every city has its neighborhood parties. Along with the way that the nation includes in excess of 7,000 little islands, it implies that consistently is a party some place over the state. Aside from these neighborhood feasts, there is additionally one in general holiday, which happens on Christmas. Other marvelous celebrations are blossom holidays, natural product gather celebrations, tourist balloon celebrations, disguise banquets, animist and different strict and ranchers fests (Festival manual for the 10 most wonderful parties of the Philippines, 2014).

Philippine cooking is rich with rice, organic product, fish, and fish. In any case, due to the Spanish and American impact, meat, particularly pork and chicken, are additionally served. All things considered, conventional dishes are sinigang, fish or shrimps with organic product, which best mirrors the adoration for sharp sweet taste of food, adobo, pork or chicken cooked with garlic and vinegar, pancit, noodles with meat, fish, vegetables or some other fixings, and lumpia, spring moves with assorted fillings served either singed or new (Magat, 2002).

Essential cooking strategies incorporate steaming, bubbling, and fricasseeing for rice and vegetables, salting, drying and broiling (both searing and profound singing) for fish and fish, and browning for pork and chicken (“Philippine food”, 2012). In view of such assortment of cooking strategies utilized, the methods of eating and serving food likewise contrast. Nonetheless, what is basic is that food is presented with plunging sauces and is eaten with the two forks and spoons, which are customary for Western individuals, and fingers (Hamlett, n.d.). Dishes have a particular tropical flavor due to an assortment of tropical foods grown from the ground sharp sweet taste. Principle flavors are soy sauce, vinegar, and fish sauce (“Philippine food”, 2012).

The Philippines is an espresso devouring nation. All things considered, Filipinos customarily serve and devour espresso, kape, with an extraordinary assortment of sweets from moves to cakes. Tea is anything but a famous drink, despite the fact that there are a few people, who lean toward it to espresso on account of developing wellbeing concerns and impact of caffeine on human living being. Aside from espresso and tea, they additionally love distinctive organic product drinks, particularly served cool, for example, organic product shakes and coconut juice. As of mixed refreshments, lager, coconut vodka, tuba, and rice wine, tapuy, are normal.

Atmosphere and topographical area decide customary dishes as well as food things produces. All things considered, Philippine horticultural area works in developing bananas, pineapples, rice, coconuts, maize, sugarcane, mangos, and so on (Nation profile – the Philippines, 2012). Notwithstanding it, Filipinos additionally develop pigs and fowl.

In this way, Philippines is a nation of celebrations and a variety of customary dishes and refreshments. Despite the fact that essential fixings are rice, fish, and natural product, an extraordinary assortment of cooking methods makes the Filipino food culture rich, so everybody can discover what the individual loves.

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References

Nation profile – the Philippines. (2012). Web.

Celebration manual for the 10 most marvelous holidays of the Philippines. (2014). Web.

Hamlett, C. (n.d.) Food culture in the Philippines. Web.

Magat, M. C. (2002). Cooking – Philippines. In K. Christensen and D. Levinson (Eds.), Encyclopedia of current Asia (pp. 208-209). New York, NY: Charles Scribner’s Sons.

Philippine cooking. (2012). Filipino Reporter, p. 38.

 

 

 

 

 

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