Question 1

Why do labor economists often find it difficult to estimate the ceteris paribus return to education, in terms of wage, using non-experimental data?

Accepted Answer

A) Education level in non-experimental data is probably dependent on other omitted factors that also affect wage. 
B) In a non-experimental setting, education level is often difficult to measure. 
C) Wage is often reported unreliably and inaccurately. 
D) Experience, another factor that also affects wage, is generally difficult to measure. 
A) Education level in non-experimental data is probably dependent on other omitted factors that also affect wage. 
B) In a non-experimental setting, education level is often difficult to measure. 
C) Wage is often reported unreliably and inaccurately. 
D) Experience, another factor that also affects wage, is generally difficult to measure.

Question 2

Nonexperimental data is called _____.​

Accepted Answer

A) ​cross-sectional data 
B) ​observational data 
C) ​time series data 
D) ​panel data 
A) ​cross-sectional data 
B) ​observational data 
C) ​time series data 
D) ​panel data

Question 3

A time series data is also called a longitudinal data set.

Accepted Answer

A) True 
 B)False

Question 4

​Which of the following is true of time series data?

Accepted Answer

A) ​The time series data is easier to analyze than cross-sectional data. 
B) ​The time series data are independent across time. 
C) ​The chronological ordering of observations in a time series conveys potentially important information. 
D) ​A time series data set consists of observations on a variable or several variables at a given time. 
A) ​The time series data is easier to analyze than cross-sectional data. 
B) ​The time series data are independent across time. 
C) ​The chronological ordering of observations in a time series conveys potentially important information. 
D) ​A time series data set consists of observations on a variable or several variables at a given time.

Question 5

Which of the following is true of experimental data?

Accepted Answer

A) Experimental data are collected in laboratory environments in the natural sciences. 
B) Experimental data cannot be collected in a controlled environment. 
C) Experimental data is sometimes called observational data. 
D) Experimental data is sometimes called retrospective data. 
A) Experimental data are collected in laboratory environments in the natural sciences. 
B) Experimental data cannot be collected in a controlled environment. 
C) Experimental data is sometimes called observational data. 
D) Experimental data is sometimes called retrospective data.

Question 6

The notion of ceteris paribus means "other factors being equal."​

Accepted Answer

A) True 
 B)False

Question 7

Data on the income of law graduates collected at different times during the same year is _____.

Accepted Answer

A) panel data 
B) experimental data 
C) time series data 
D) cross-sectional data 
A) panel data 
B) experimental data 
C) time series data 
D) cross-sectional data

Question 8

Which of the following is the first step in empirical economic analysis?

Accepted Answer

A) Collection of data 
B) Statement of hypotheses 
C) Specification of an econometric model 
D) Testing of hypotheses 
A) Collection of data 
B) Statement of hypotheses 
C) Specification of an econometric model 
D) Testing of hypotheses

Why do labor economists often find it difficult to estimate the ceteris paribus return to education, in terms of wage, using non-experimental data?

Nonexperimental data is called _____.

A time series data is also called a longitudinal data set.

Which of the following is true of time series data?

Which of the following is true of experimental data?

The notion of ceteris paribus means "other factors being equal."

Data on the income of law graduates collected at different times during the same year is _____.

Which of the following is the first step in empirical economic analysis?

The Simple Regression Model

Multiple Regression Analysis Estimation

Multiple Regression Analysis Inference

Multiple Regression Analysis Ols Asymptotics

Multiple Regression Analysis Further Issues

Multiple Regression Analysis With Qualitative Information

Heteroskedasticity

More on Specification and Data Issues

Basic Regression Analysis With Time Series Data

Further Issues in Using Ols With Time Sries Data

Serial Correlation and Heteroskedasticity in Time Series Regressions

Pooling Cross Sections Across Time Simple Panel Data Methods

Advanced Panel Data Methods

Instrumental Variables Estimation and Two Strage Least Squares

Simultaneous Equations Models

Limited Dependent Variable Models and Sample Selection Correctons

Advanced Time Series Topics

Carrying Out an Empirical Project

Filters

Exam 1: The Nature of Econometrics and Economic Data

Why do labor economists often find it difficult to estimate the ceteris paribus return to education, in terms of wage, using non-experimental data?

Nonexperimental data is called _____.​

A time series data is also called a longitudinal data set.

​Which of the following is true of time series data?

Which of the following is true of experimental data?

The notion of ceteris paribus means "other factors being equal."​

Data on the income of law graduates collected at different times during the same year is _____.

Which of the following is the first step in empirical economic analysis?

The Simple Regression Model

Multiple Regression Analysis Estimation

Multiple Regression Analysis Inference

Multiple Regression Analysis Ols Asymptotics

Multiple Regression Analysis Further Issues

Multiple Regression Analysis With Qualitative Information

Heteroskedasticity

More on Specification and Data Issues

Basic Regression Analysis With Time Series Data

Further Issues in Using Ols With Time Sries Data

Serial Correlation and Heteroskedasticity in Time Series Regressions

Pooling Cross Sections Across Time Simple Panel Data Methods

Advanced Panel Data Methods

Instrumental Variables Estimation and Two Strage Least Squares

Simultaneous Equations Models

Limited Dependent Variable Models and Sample Selection Correctons

Advanced Time Series Topics

Carrying Out an Empirical Project

Filters

Nonexperimental data is called _____.

Which of the following is true of time series data?

The notion of ceteris paribus means "other factors being equal."