Cross-sectional data observed at several points in time is known as:
A) time series data.
B) panel data.
C) experimental data.
D) none of the above.
B
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Lucinda starts a business consulting company. She makes all the business decisions and bears the risk of running the business. The typical payment for Lucinda's work is ________
A) all the revenue greater than her opportunity cost B) all the revenue greater than the capital investment C) a normal profit D) an economic profit
Following the imposition of the Smoot-Hawley tariff
A) international trade continued to expand. B) more than 40 countries imposed higher tariffs of their own. C) employment in the United States expanded rapidly. D) Two of the above.
In the simplest version of the Cournot model, we assume the firms
A) set price independently and simultaneously. B) set quantities independently and sequentially. C) sell identical products. D) the firms are in a Nash equilibrium.
A tight monetary policy tends to ____________ our net exports.
Fill in the blank(s) with the appropriate word(s).