Which of the Following Is an Endogenous Variable in Our

question 64

Multiple Choice

Which of the following is an endogenous variable in our model of the goods market in Chapter 3?

• A)consumption (C)
• B)disposable income (YD)
• C)saving (S)
• D)total income (Y)
• E) all of the above

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Definitions:

Open-end Credit

A pre-approved loan between a financial institution and borrower that can be used repeatedly up to a certain limit and can be repaid prior to payments coming due.

Unpaid Balances

Amounts owed that have not been paid by the due date.

Unsolicited Merchandise

Goods sent to a person without their request, often with the implication that payment is expected if the goods are used or not returned.

Gift

A voluntary transfer of property or funds from one person to another without consideration or expectation of return.