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Give at least three examples from macroeconomics and five from microeconomics that involve specified equations in a panel data analysis framework. Indicate in each case what the role of the entity and time fixed effects in terms of omitted variables might be.
Toretto Car Rentals
A fictional or possibly niche business entity specializing in the rental of vehicles, presumably named after a character from a popular movie franchise.
Overbooked Customers
A situation where more customers are accepted than can be served, often used in reference to airlines and hotels.
Formula Calculation
The process of determining a value through a mathematical expression that involves operations on numbers or other expressions.
Product Sold
A measure indicating the quantity of an item offered that has been purchased by consumers.
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