In the example in equation (7.29), suppose
that we define outlf to be one if the woman is out of the labor force, and zero
(i) If we regress outlf on all of the
independent variables in equation (7.29), what will happen to the intercept and
slope estimates? (Hint: inlf 5 1 2 outlf . Plug this into the population
equation inlf 5 b0 1 b1nwifeinc 1 b2educ 1 and rearrange.) (ii) What will
happen to the standard errors on the intercept and slope estimates? (iii) What
will happen to the R-squared?
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