Give at least three examples from economics where each of the ...

[shofmannx20]

Give at least three examples from economics where each of the following type of data can be used: cross-sectional data, time series data, and panel data.
 
  What will be an ideal response?

Question 2

The most frequently used experimental or observational data in econometrics are of the following type:
 
  A) cross-sectional data.
  B) randomly generated data.
  C) time series data.
  D) panel data.

[xoxo123]

Answer to Question 1

Answer: Answers will vary by student. At this level of economics, students most likely have heard of the following use of cross-sectional data: earnings functions, growth equations, the effect of class size reduction on student performance (in this chapter), demand functions (in this chapter: cigarette consumption); time series: the Phillips curve (in this chapter), consumption functions, Okun's law; panel data: various U.S. state panel studies on road fatalities (in this book), unemployment rate and unemployment benefits variations, growth regressions (across states and countries), and crime and abortion (Freakonomics).

Answer to Question 2

Answer: A

[shofmannx20]

Thank you

[xoxo123]

No problemo