In an economic model:
A)exogenous variables and endogenous variables are both determined outside the model.
B)endogenous variables and exogenous variables are both determined within the model.
C)endogenous variables affect exogenous variables.
D)exogenous variables affect endogenous variables.

Question

Quizplus · Accepted Answer

Exogenous variables are determined outside the model and can influence endogenous variables, which are determined within the model.

In an Economic Model