Econometrics ch.1

What is the difference between panel and pooled cross-sectional data?

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

Which of the following is true? a.) A variable has a causal effect on another variable if both variables increase or decrease simultaneously. b.) Difficulty in inferring causality disappears when studying data at fairly high levels of aggregatio c.)he problem of inferring causality arises if experimental data is used for analysis.

C.)

True or False: Experimental data are easy to obtain in the social sciences.

False

True or False: Random sampling complicates the analysis of cross-sectional data

False

_____ has a causal effect on _____

Income; consumption

True or False: The notion of ceteris paribus means other factors being equal

True

Which of the following is true regarding cross-sectional data sets? a.)The data are collected multiple times over several different time periods. b.)The data are collected at approximately the same point in time. c.)The data consist of a sample of multiple individuals. d.)It can be assumed that the data were obtained through a random sampling of the underlying population.

a,b,c

Which of the following is the first step in empirical economic analysis? a.) Specification of an econometric model b.) Collection of data c.) statement of hypothesis d.) Testin hypothesis

a.) Specification of an econometric model

Which of the following are examples of a time-series data set? a.) The 2010 U.S. Census, which surveyed many individual households across the United States b.)The daily exchange rate of the U.S. dollar to the British pound since 2007 c)Monthly speeding tickets in Los Angeles over the past 5 years d.)Quarterly U.S. GDP from 2000 to 2009

b,c,d

Nonexperimental data is called _____.

time series data