Analyzing the effect of minimum wage changes on teenage employment across the 48 contiguous U.S. states from 1980 to 2004 is an example of using
A) time series data.
B) panel data.
C) having a treatment group vs. a control group, since only teenagers receive minimum wages.
D) cross-sectional data.
Answer: B
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In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is a normal good
a. The population increases and the price of inputs increase. b. The price of a complement increases and technology advances. c. The number of firms in the market increases and income increases. d. Price is expected to increase in the future. e. Consumer preference increases and the price of a substitute in production decreases.
Unemployment is not caused by
A. drops in actual GDP. B. persons looking for more suitable jobs. C. inflation. D. technological disruption.