Which of the statements best describes an exogenous variable in an economic model? An exogenous variable is a variable whose value does not have a relationship with the other variables in the model. An exogenous variable is a variable whose value is not included in the model An exogenous variable whose value does not change as the state of the economy changes An exogenous variable is a variable whose value does change as the stae of the economy changes
Which of the statements best describes an exogenous variable in an economic model? An exogenous variable is a variable whose value does not have a relationship with the other variables in the model. An exogenous variable is a variable whose value is not included in the model An exogenous variable whose value does not change as the state of the economy changes An exogenous variable is a variable whose value does change as the stae of the economy changes
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 5SQ
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Which of the statements best describes an exogenous variable in an economic model?
An exogenous variable is a variable whose value does not have a relationship with the other variables in the model.
An exogenous variable is a variable whose value is not included in the model
An exogenous variable whose value does not change as the state of the economy changes
An exogenous variable is a variable whose value does change as the stae of the economy changes
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