Consider the following estimated regression In Y, = 2.57 + 0.212 InK: + 0.343 InL: + 0.030 InWt (2.90) (0.348) (0.551) (0.063) where Y: is the industry output, Kt and Lt represent capital and labor,...

Consider the following estimated regression<br>In Y, = 2.57 + 0.212 InK: + 0.343 InL: + 0.030 InWt<br>(2.90) (0.348)<br>(0.551)<br>(0.063)<br>where Y: is the industry output, Kt and Lt represent capital and labor, respectively. It is<br>claimed that there is no problem with the estimated regression and all the inferences are<br>consistent with economic theory.<br>Is it true/false/ uncertain. Explain.<br>ww w ww w ww m<br>

Extracted text: Consider the following estimated regression In Y, = 2.57 + 0.212 InK: + 0.343 InL: + 0.030 InWt (2.90) (0.348) (0.551) (0.063) where Y: is the industry output, Kt and Lt represent capital and labor, respectively. It is claimed that there is no problem with the estimated regression and all the inferences are consistent with economic theory. Is it true/false/ uncertain. Explain. ww w ww w ww m

Jun 11, 2022

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Consider the following estimated regression In Y, = 2.57 + 0.212 InK: + 0.343 InL: + 0.030 InWt (2.90) (0.348) (0.551) (0.063) where Y: is the industry output, Kt and Lt represent capital and labor,...

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