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Omitted variable bias: a. exists if the omitted variable is correlated with the included regressor but is not a determinant of the dependent variable. b.

Omitted variable bias:
a. exists if the omitted variable is correlated with the included regressor but is not a determinant of the dependent variable.
b. exists if the omitted variable is correlated with the included regressor and is a determinant of the dependent variable.
c. will always be present as long as the regression R2 < 1.
d. is always there but is negligible in almost all economic examples.

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