A monopsony restricts the quantity of a factor demanded to force down the price of the factor and increase profits

The opportunity cost of current consumption is:

A) nominal wage rate. B) the inflation rate. C) real wage rate. D) the real interest rate.

Possible solutions to omitted variable bias, when the omitted variable is not observed, include the following with the exception of

A) panel data estimation. B) nonlinear least squares estimation. C) use of instrumental variables regressions. D) use of randomized controlled experiments.