The determining function that drives share of accepted job offers for a company is given by the following equation: AcceptedOfferst = ?0 + ?1StartingSalaryt + ?2EconomicClimatet + Ut, where the unit of observation is particular month (t). Suppose one wanted to use the national unemployment rate (unemploymentt) as a proxy for EconomicClimate (i.e., ran the above regression replacing the UnemploymentRate with EconomicClimate). How should we interpret the estimated coefficient on the UnemploymentRate (i.e., the proxy variable)?

A. A good estimate for ?2 in the above determining function.
B. A good estimate for ?1 in the above determining function.
C. A good estimate for ?1 + ?2 in the above determining function.
D. None of the answers is correct.


Answer: D

Biology & Microbiology

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