Including as Many Dummy Variables as There Are Categories Is

question 50

Short Answer

Including as many dummy variables as there are categories is referred to as the dummy variable ________.

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Definitions:

Destination Country

The country to which goods, services, or people are being sent or migrating to.

Labor Migration

Labor migration is the movement of workers from one location to another, often between countries or regions, in search of better employment opportunities and living conditions.

Implicit Costs

The opportunity costs associated with a company's use of resources it owns, representing potential income lost.