Chapter 1

Question 1

1.3: Cross-Sectional Data Set

Answer 1

A sample of individuals, households, firms, cities,
states, countries, or a variety of other units, taken at a given point in time.

Question 2

1.3: Time Series Data Set

Answer 2

A time series data set consists of observations on a variable or several variables over
time.

Question 3

1.3: Pooled Cross Section Data Set

Answer 3

A data configuration where
independent cross sections, usually collected at different
points in time, are combined to produce a single
data set.

Question 4

1.3: Panel Data Set

Answer 4

A data set constructed from repeated cross
sections over time. With a balanced panel, the same
units appear in each time period. With an unbalanced
panel, some units do not appear in each time period,
often due to attrition.