Ascertaining Whether or Not a Regressor Is Strictly Exogenous or Exogenous

question 30

Multiple Choice

Ascertaining whether or not a regressor is strictly exogenous or exogenous ultimately requires all of the following with the exception of

• A)economic theory.
• B)institutional knowledge.
• C)expert judgment.
• D)use of HAC standard errors.

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Definitions:

Transmitter

A device or system that sends out signals, messages, or other forms of communication through various forms of media.

Strong Situation

Environments or scenarios in which clear social norms or expectations heavily influence individual behavior, often overshadowing personal traits.

Weak Situation

A type of environmental context where norms, expectations, and roles are vague or ambiguous, leading to greater variability in individuals' behaviors.

Situationism

A theory within psychology that suggests human behavior is largely determined by the surrounding context or situation rather than by personal characteristics or traits.