The accompanying graph 2 4 6 8 10 12 65 70 75 80 85

10) The accompanying graph
2
4
6
8
10
12
65 70 75 80 85 90 95
U.S. Unemployment Rate in %
Year
is an example of
a. experimental data.
b. cross-sectional data.
c. a time series.
d. longitudinal data.
Answer : c
11) One of the primary advantages of using econometrics over typical results from economic
theory, is that
12) In a randomized controlled experiment
you control for the effect that random numbers are not truly randomly generated
3

13) The reason why economists do not use experimental data more frequently is for all of the
following reasons except that real-world experiments
14) The most frequently used experimental or observational data in econometrics are of the
following type:
a. randomly generated data.
b. time series data.
c. panel data.
d. cross-sectional data.
Answer : d
15) In the graph below, the vertical axis represents average real GDP growth for 65 countries
over the period 1960-1995, and the horizontal axis shows the average trade share within
these countries.
4

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