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37. Explain the difference between longitudinal and cross-sectional data and give two advantages of each. a. Provide three reasons why it is so hard to

37. Explain the difference between longitudinal and cross-sectional data and give two advantages of each.

a. Provide three reasons why it is so hard to construct representative panels.

b. How do longitudinal and cross-sectional compare? Explain pro's and con's based on five criteria.

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