Variables that a model takes as given are called:
A) endogenous.
B) exogenous.
C) market clearing.
D) macroeconomic.

Question

Quizplus · Accepted Answer

Exogenous variables are those that are taken as given in a model and not explained within the model itself. Endogenous variables, on the other hand, are explained within the model and are determined by other variables in the model. Market clearing and macroeconomic are not relevant terms in this context.

Variables That a Model Takes as Given Are Called