Which one of the following statements is true: If E(u|X)# 0, OLS is an inconsistent estimator. If E(u|Z)=0 and Corr(X,Z)# 0, then Z is a valid instrument. b. If E(u|X)=0, you don't need to look for instruments. С. If E(u|X)# 0 and Corr(X,Z) = 0, then Z is not a valid instrument. d. е. All of the above. f. None of the above. a.

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