For Each of the Following, Indicate Whether the Data Are

question 11

Essay

For each of the following, indicate whether the data are cross-sectional or time series:
• Company quarterly profits
• Percentage of Canadian adults who work full time
• Historical closing stock prices

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Definitions:

Additional Output

Refers to the extra amount of production a company or economy can generate when it utilizes additional resources or inputs.

Guaranteed Contracts

Agreements that ensure certain terms, such as payment or service delivery, regardless of future circumstances or performance.

Salaries

Regular payments made to employees for their labor or services, typically expressed as annual amounts but paid in smaller increments such as monthly or biweekly.

Variable Cost

Expenses that change in proportion to the level of production or sales in a company.