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.

---

Definitions:

Legal Issues

Matters involving interpretations of laws and legal principles, potentially leading to legal actions or disputes.

Directly Accuse

To confront someone openly and straightforwardly with an allegation of wrongdoing.

Self-Direction

The ability to set short-term and long-term goals for yourself.

Short-Term Goals

The specific plans of action for the things you would like to accomplish right now or in the immediate future.