In an economic model,an exogenous 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.
Correct Answer:
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Q4: Making use of an economic model is
Q5: In a general equilibrium model
A) all markets
Q6: An economy that has no interaction with
Q7: The production possibilities frontier in the one-period
Q8: For a competitive equilibrium to occur,all of
Q10: An economy that engages in international trade
Q11: Which of the following is not a
Q12: In an economic model,an endogenous variable is
A)
Q13: The production possibilities frontier represents
A) all combinations
Q14: Fiscal policy encompasses all of the following
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