Which of the following is a difference between panel and pooled cross-sectional data?
A. A panel data set consists of data on different cross-sectional units over a given period of time while a pooled data set consists of data on the same cross-sectional units over a given period of time.
B. A panel data set consists of data on the same cross-sectional units over a given period of time while a pooled data set consists of data on different cross-sectional units over a given period of time
C. A panel data consists of data on a single variable measured at a given point in time while a pooled data set consists of data on the same cross-sectional units over a given period of time.
D. A panel data set consists of data on a single variable measured at a given point in time while a pooled data set consists of data on more than one variable at a given point in time.
Answer: B
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Which of the following is a negative effect of economic growth?
A) higher inflation B) environmental pollution C) higher unemployment D) all of the above
Consider the market for opticians. What is likely to happen to the equilibrium wage and quantity of opticians if more and more people turn to laser eye surgery instead of wearing glasses or contact lens?
A) The equilibrium wage falls and the equilibrium quantity of opticians rises. B) The equilibrium wage and the equilibrium quantity of opticians rise. C) The equilibrium wage and the equilibrium quantity of opticians fall. D) The equilibrium wage rises and the equilibrium quantity of opticians falls.
If the average price of a car suddenly changes from $20,000 to $15,000, larger, more remote stores with lower prices are ________ to have a(n) ________ in the number of customers.
A) likely; increase B) not likely; change C) not likely; increase D) likely; decrease
The decision by firms to enter a market shifts the market supply curve to the right.
Answer the following statement true (T) or false (F)