Which of the Following Statements Regarding Exogenous and Endogenous Variables

question 57

Multiple Choice

Which of the following statements regarding exogenous and endogenous variables is correct?

• A)The set of exogenous variables in any economic model should take into account the rich detail of the world and so should be limitless.
• B)Endogenous variables will always be determined within the model.
• C)Exogenous variables change as a result of changes in endogenous variables.
• D)The only variables that are relevant to the market equilibrium are the endogenous variables, as they are determined within the model.

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