D) longitudinal data.
Answer: A
5
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16) The accompanying graph
is an example of:
A) experimental data.
B) cross-sectional data.
C) a time series.
D) longitudinal data.
Answer: C
1.2 Essays and Longer Questions
1) 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.
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).