What Characterizes Time-Series Cross-Section Data

question 1

Multiple Choice

What characterizes time-series cross-section data?

• A) When we have a large number of units recorded at few time points
• B) When we have a small or medium sized number of units recorded at many time points
• C) When we have a large number of units recorded at many time points
• D) When we have a small or medium sized number of units recorded at few time points

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Definitions:

Midpoint Formula

A method used in geometry and economics to find the midpoint or the average of two points on a line segment.

Consumer Expenditure

The total amount spent by consumers on goods and services in a given period.

Total Revenue

The overall amount of money generated from the sale of goods and services before any expenses are subtracted.

Inelastic

Describes a situation where the quantity demanded or supplied changes by a smaller percentage than the percentage change in price.