In an economic model,
A) endogenous variables determine exogenous variables.
B) exogenous variables determine endogenous variables.
C) the government budget constraint determines exogenous variables.
D) fiscal policy determines endogenous variables.
E) endogenous and exogenous variables are determined simultaneously.
Correct Answer:
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Q1: Making use of an economic model is
Q3: An example of a public good is
A)
Q4: A relationship that shows the technological possibilities
Q5: In a one-period model, government is likely
Q6: Examples of exogenous variables include
A) real wages,
Q7: Points on the production possibilities frontier have
Q8: In the production function, output is given
Q9: In an economic model, an endogenous variable
Q10: In a one-period economic model, the government
Q11: In an economic model, government spending is
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