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:

Surplus

The excess of supply over demand in a market, resulting in lower prices.

Shortage

A situation in which demand for a product exceeds its supply in a market.

Price Floor

A government- or authority-imposed minimum price that can be charged for a particular good or service, intended to prevent prices from falling below a certain level.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services in a market, aimed at managing the affordability of these goods and services.