
In an economic model,an endogenous variable is
A) a stand-in for more complicated variables.
B) determined by the model itself.
C) determined outside the model.
D) a variable that has no effect on the workings of the model.
E) closely linked to a closed economy.
Correct Answer:
Verified
Q15: Goods and services provided by the government
Q16: Examples of exogenous variables include
A) real wages,
Q17: Fiscal policy refers to a government's choices
Q18: In a one-period economic model,the government budget
Q19: In an economic model,government spending is assumed
Q21: The second fundamental theorem of welfare economics
Q22: An example of a negative externality is
A)
Q23: A competitive equilibrium has the following property:
A)
Q24: The marginal rate of transformation is
A) the
Q25: The real wage is determined by
A) the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents