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MMLU-Pro / 6917 / If OLS is applied separately to each equation that is part of a simultaneous…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

If OLS is applied separately to each equation that is part of a simultaneous system, the resulting estimates will be

category

economics

options

  1. Biased, inconsistent, and inefficient.
  2. Biased but consistent
  3. Unbiased and consistent
  4. Biased but inconsistent for one equation only
  5. Unbiased and efficient
  6. Unbiased but inconsistent
  7. It is impossible to apply OLS to equations that are part of a simultaneous system
  8. Consistent but inefficient
  9. It is possible to apply OLS to equations that are part of a simultaneous system, but the results will be unpredictable
  10. Biased and inconsistent

src

ori_mmlu-econometrics

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