Regression: Wage=b0+b1collegegrad, where collegegrad is a dummy variable. Suppose you want to estimate the wage ratio between college graduates and non-college graduates. Is the estimator theta=b0/b1 consistent?
My thinking is that if we could increase our sample size to infinity, we would cover the entire population and thus get the true ratio, so the estimator is consistent. Am I correct, or am I missing something?