Identify the Type of Observational Study: Cross-Sectional, Retrospective, or

question 9

Short Answer

Identify the type of observational study: cross-sectional, retrospective, or
prospective.
-Climatologists studying global warming record the average (mean) temperature of the Earth and the change in size of the ice caps during the next 50 years.

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Definitions:

Microeconomics

The branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.

Wage Cut

A reduction in the rate of pay received by workers, often implemented by employers to reduce costs or in response to economic conditions.

Marginal Products

The additional output that is produced by employing one more unit of a variable factor of production, holding other inputs constant.

Separating Equilibrium

A situation in economics where different types of market participants can be distinguished based on their actions or decisions.