Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume you are trying to study the effect of democracy on trade. You believe that a third factor, wealth, may cause both democracy and increased

Assume you are trying to study the effect of democracy on trade. You believe that a third factor, wealth, may cause both democracy and increased trade. Do you need to include wealth as a control variable? Group of answer choices Yes, you definitely should include it No, you definitely should not include it It might help to get more precise estimates, but including it is not required You should not include it initially, but running a second model with it included might help identify mechanisms

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Paul Krugman, Robin Wells

4th Edition

1464143870, 9781464143878

More Books

Students also viewed these Economics questions

Question

What tax rate should we use to value a foreign project?

Answered: 1 week ago

Question

(g) What is their marginal tax rate?

Answered: 1 week ago

Question

Pay him, do not wait until I sign

Answered: 1 week ago

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago