Ideal randomized controlled experiments in economics are
B) often used by the Federal Reserve to study the effects of monetary policy.
C) useful because they give a definition of a causal effect.
D) sometimes used by universities to determine who graduates in four years rather than five.
Answer: C
Econometrics
- In a randomized controlled experiment
- To provide quantitative answers to policy questions
- Panel data
- 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
- Analyzing the behavior of unemployment rates across U.S. states in March of 2006 is an example of using