In an economic model, an endogenous variable is
A) a stand-in for more complicated variables.
B) closely linked to a closed economy.
C) determined outside the model.
D) determined by the model itself.
E) a variable that has no effect on the workings of the model.
Correct Answer:
Verified
Q15: According to the Laffer Curve
A)higher tax rates
Q16: The first fundamental theorem of welfare economics
Q17: The government spending multiplier is
A)the ratio of
Q18: Much of the writings of Adam Smith
Q19: The concept of Pareto optimality is a
A)useful
Q21: Government spending in the one-period model acts
Q22: Changes in total factor productivity are plausible
Q23: In an economic model, government spending is
Q24: The marginal rate of transformation is
A)is equal
Q25: A Pareto optimum
A)is the slope of the
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