Suppose you want to estimate a wage equation for married women of the form log(WAGE) = B1 + 32 EDUC + B3 EXPER + BAHOURS + E where WAGE is hourly wage, HOURS is the number of hours worked perweek, EDUC is years of education, and EXPER is years of experience. Your classmate observes that higher wages can bring forth increased work effort, and that married women with young children may reduce their hours of work to take care of them, so there may be an auxiliary relationship such as HOURS = a1 + a2log(WAGE) + a3 KIDS + u where KIDS denote the number of children under the age of six in the woman's household. Which of the following statements is NOT true? O 2SLS estimation of the first equation is unbiased and consistent. O Indirect Least Squares estimation of the first equation is consistent. O OLS estimation of the first equation is inconsistent. O Instrimental Variables estimation using EDUC as an instrument in the second equation is inefficient