Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) White test can be used to efficiently determine the presence of serial correlation in panel data.
B) The t statistic is not an efficient test to determine serial correlation in panel data.
C) Instrumental variables for both endogenous and exogenous variables are required for estimating simultaneous equation models concerned with panel data.
D) 2SLS should be applied to simultaneous equation models with panel data only after removing the unobserved effects from the equations of interest.