Experimental Data Are Often

question 9

Multiple Choice

Experimental data are often

• A)observational data.
• B)binary data, in that the subject either does or does not respond to the treatment.
• C)panel data.
• D)time series data.

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Definitions:

Common Resources

Natural or man-made resources that are not owned by anyone, tend to be overused or depleted, and are difficult to exclude people from using.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person without diminishing availability to others.

Private Goods

Goods that are excludable and rival in consumption, meaning their use by one person prevents use by another.

Nonrival

A characteristic of a good whereby one person's consumption does not diminish the availability of that good for consumption by others.