Labor economist performs a statistical analysis

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Reference no: EM13772416

Suppose that a labor economist performs a statistical analysis on economy-wide worker wages using standard, measurable explanatory factors, such as job characteristics, years of schooling, and so forth.

How much of the variation in worker wages can be accounted for by such measurable explanatory factors?

Somewhat less than 50%?

Somewhat more than 60%?

Nearly 100%? or

About 0%?

Reference no: EM13772416

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