Figure 1.1
-Figure 1.1 displays exogenous variables entering a model from which emerge endogenous variables.Yet,in the five-step process to develop an economic model,the macroeconomist specifies the endogenous variables first,then the exogenous variables.Which is the correct sequence? Explain.

Question

Figure 1.1 
-Figure 1.1 displays exogenous variables entering a model from which emerge endogenous variables.Yet,in the five-step process to develop an economic model,the macroeconomist specifies the endogenous variables first,then the exogenous variables.Which is the correct sequence? Explain.

Quizplus · Accepted Answer

The Answer of Figure 1.1 
-Figure 1.1 displays exogenous variables entering a model from which emerge endogenous variables.Yet,in the five-step process to develop an economic model,the macroeconomist specifies the endogenous variables first,then the exogenous variables.Which is the correct sequence? Explain.

Figure 1.1 -Figure 1.1 Displays Exogenous Variables Entering a Model from Which