UoH 2020 Question 20: Misspecification and measurement error

Suppose we have estimated the regression model,

$y_i = \beta_1 + \beta_2 x_{i2} + \cdots + \beta_K x_{iK} + e_i$

Let $\hat{y}_i$ be the fitted value of $y_i$ for each $i$. Now, we estimate the artificial model,

$y_i = \beta_1 + \beta_2 x_{i2} + \cdots + \beta_K x_{iK} + \gamma_1 \hat{y}_i^2 + \gamma_2 \hat{y}_i^3 + v_i$

to test $H_0 : \gamma_1 = \gamma_2 = 0$ against $H_1$ : $H_0$ is wrong. Choose the correct statement.