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+ OtopO+ + California 0 Teenage Employment Rate in 1989 20 25 30 35 40 45 50 55 60 65 70 Teenage Employment Rate in

+ OtopO+ + California 0 Teenage Employment Rate in 1989 20 25 30 35 40 45 50 55 60 65 70 Teenage Employment Rate in 1987 * States with Higher Minimum Wage in 1989 Other States Figure 3. Teenage Employment-Population Rates in the 50 States and the District of Columbia: 1989 Rates Plotted Against 1987 Rates. Suppose that you ran the following regression: Employment Rate in 1989 = B1 + B2 * Employment Rate in 1987i + ei Do you think you will have a serial (aka. auto) correlation problem with respect to the states that have higher minimum wages in 1989 compared to those that did not? (7 points)

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