! Suppose you are interested in estimating the causal effect of having a Master's degree in Eco-nomics on earmings among individuals who majored in Economics. You have a sample of 1,500individuals who majored in Economics. Which of the following statements is correct:O A consistent estimate of this causal effect can be obtained by comparing average earnings of sampled individuals with and without aMaster's degree in EconomicsO A consistent estimate of this causal effect can be obtained by regressing earnings on a dummy variable indicating whether or not anindividual in the sample has a Master's degree in EconomicsO A consistent estimate of this causal effect can be obtained by regressing earnings on 1) a dummy variable indicating whether anindividual in the sample has a Master's degree in Economics, 2) gender, 3) age, 4) type of occupation, 5) state of residenceO None of the above

In an economy, causal effect refers to the analysis of occuring of one event due to the occurrence…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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