In a Simultaneous Equations Model, If Any Variable Is Determined

question 6

Multiple Choice

In a simultaneous equations model, if any variable is determined outside of the model, then it is considered a(n) :​

• A)​endogenous variable.
• B)​random variable.
• C)​exogenous variable.
• D)​error variable.

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Definitions:

Specific Factors

Elements or conditions that are distinct and contribute to a particular outcome or situation.

Prototype

The object that has the greatest number of attributes characteristic of the concept and that is therefore the most typical member of that concept.

Attribute

A feature of an object or event that varies from one instance to another.

Genotype

The genetic makeup of an individual organism, consisting of the inherited alleles that dictate traits or characteristics.