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Econometrics: On the island of Econometrica there are 4 racial groups. We have collected data on wages from everyone in the island and we want

Econometrics: On the island of Econometrica there are 4 racial groups. We have collected data on wages from everyone in the island and we want to run a regression to find the wage differences. How many racial group dummies need to be included? (a) 1 (b) 2 (c) 3 (d) 4

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