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Question 3 (1 point) Which conditions must be met for a variable to be a valid instrument? 0 The instrumental variable must be correlated with

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Question 3 (1 point) Which conditions must be met for a variable to be a valid instrument? 0 The instrumental variable must be correlated with the endogenous explanatory variable. 0 The instrumental variable should not affect the endogenous explanatory variable 0 The instrumental variable can be correlated with the error term in the explanatory equation

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