Two-Stage Least Squares

question 20

Multiple Choice

Two-stage least squares

• A)is an instrumental variable technique that can be used to control for endogeneity of an right hand side variable.
• B)can be used to control for jointly determined simultaneous equations.
• C)can be used to control for measurement error of an independent variable.
• D)All of the above are correct.

Identify factors contributing to the gender gap in earnings and employment opportunities.

Recognize the influence of gender on body dissatisfaction and the cultivation of body ideals.

Discuss the variability of gender roles and gender identity across cultures and societies.

Define and distinguish between quid pro quo and hostile environment sexual harassment.

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Definitions:

Natural Monopolies

Situations in which a single firm can supply a good or service to an entire market more efficiently than multiple firms could, often due to high infrastructure costs making competition impractical.

Allocative Efficiency

An economic state where resources are allocated in a way that maximizes the net benefit to society, considering both production and desires of consumers.

Simultaneous Consumption

A consumption pattern in which a product or service is consumed by multiple users at the same time without reducing its availability to others.