Question: f In the model log(wage) = + leduc + u, suppose that (motheduc, fatheduc) are valid instruments far educ. Using a residual based test, we

In the model log(wage) = + leduc + u, suppose that (motheduc, fatheduc) are valid instruments far educ. Using a residual based test, we cannot reject the null hypothesis that educ is exogenous at the 5% significance level. Then it is most likely that C) C) o C) a. b. d. the OLS estimator of is consistent. the OLS estimator of l is inconsistent. Both the OLS and the 2SLS estimators of 41 are consistent. the 2SLS estimator of is inconsistent.

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