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K4. You have data on city population levels and city-level average wages for 100 U.S. cities (100 observations). Concluding a causal relationship from regressing city

K4.

You have data on city population levels and city-level average wages for 100 U.S. cities (100 observations). Concluding a causal relationship from regressing city population on wages is misleading and wrong, for example, due to omitted variable bias. Discuss one omitted variable and how its omission from the regression biases the relationship between population and wages.

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