The Latent Variable Equivalent of Dependent Variables Is Called a ____

question 9

Multiple Choice

The latent variable equivalent of dependent variables is called a ____.

• A)free construct
• B)exogenous construct
• C)endogenous construct
• D)fixed construct

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is exactly equal to the quantity demanded at the market price.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at a given price.

Tax Revenue

Income that is gained by governments through taxation, used to fund public services and government obligations.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping to the right.