Panel data is also called
A) longitudinal data.
B) cross-sectional data.
C) time series data.
D) experimental data.
Answer: A
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The social cost of production is:
A. the private cost of production plus the external cost generated by production. B. the external cost generated by production. C. the private cost of production that is greater than the benefit of production. D. the external cost of production that is greater than the benefit of production.
Perfectly elastic demand curves are vertical.
Answer the following statement true (T) or false (F)
Are there key differences between an increase in the capital stock and an improvement in the level of technology?
The price of a good will rise when:
A. there is a shortage of the good. B. there is a surplus of the good. C. demand for the good decreases. D. the supply of the good increases.