Answer Happy

Consider the following system of simultaneous regression equations: (1) Yi = a1 + A2X; + a32; + Ej Xi = B1 + Bayi + ni (2) Z; = 71 +72W; + vi (3) Assuming that all the parameters are non-zero, which of the following statements are true? Select one: O a. Equations 1, 2 and 3 may all be consistently estimated using the OLS procedure. O b. The OLS procedure is inconsistent for Equation 1, but may be consistent for equations 2 and 3. O c. The OLS procedure is inconsistent for Equation 2, but may be consistent for equations 1 and 3. O d. The OLS procedure is inconsistent for Equation 3, but may be consistent for equations 1 and 2. Oe. The OLS procedure is inconsistent for equations 1 and 2, but may be consistent for Equation 3. Of. The OLS procedure is inconsistent for equations 1 and 3, but may be consistent for Equation 2. The OLS procedure is inconsistent for equations 2 and 3, but may be consistent for Equation 1. o g. Oh. The OLS procedure is inconsistent for equations 1, 2 and 3.