According to economists, the fixed-price model of macroeconomic equilibrium depicts the modern economy most closely because it assumes that aggregate supply is independent of price

The difference between an unbalanced and a balanced panel is that

A) you cannot have both fixed time effects and fixed entity effects regressions. B) an unbalanced panel contains missing observations for at least one time period or one entity. C) the impact of different regressors are roughly the same for balanced but not for unbalanced panels. D) in the former you may not include drivers who have been drinking in the fatality rate/beer tax study.

Wage and MFC differ for a monopsonist because:

A. the monopsonist is forced to pay a wage greater than the worker's MFC. B. the monopsonist must accept the market wage rate. C. workers are not as efficient when employed by a monopsonist. D. any wage increase applies to all workers, not just to the next hired.