proxy in model misspecification

What is meant by proxy here? When utilizing a proxy for one or more independent variables in a multiple regression model, which of the following errors is most likely to occur? A) Heteroskedasticity. B) Model misspecification. C) Multicollinearity. D) Serial correlation. Your answer: B was correct! By using a proxy for an independent variable in a multiple regression analysis, there is some degree of error in the measurement of the variable.