An Omitted Variable Is a Variable That ________

question 24

Multiple Choice

An omitted variable is a variable that ________.

• A) is purposely left out as it does not aid an economic analysis
• B) does not cause other variables in a study to change when it changes
• C) is removed from a study as it can lead to the problem of reverse causality
• D) has been left out, and if included, would explain why the variables considered in a study are correlated

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Definitions:

Work Force

The total number of people employed or available for employment in a specific community, region, or country, including both the employed and those seeking employment.

Collective Bargaining

The negotiation process between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, and other aspects of workers' compensation and rights.

Going on Strike

A form of protest or labor action where employees stop working to press for better working conditions, wages, or benefits from their employers.

Withhold Labor

The act of refusing to work, typically as a form of protest or to secure better working conditions or wages.