What Is the Difference Between Endogenous and Exogenous Variables? in the Equilibrium

question 11

Essay

What is the difference between endogenous and exogenous variables? In the equilibrium condition of PPP,which variables are endogenous and which are exogenous?

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Definitions:

Mediating Variables

Variables that explain the relationship between two other variables, usually serving as an intermediary or mechanism through which an effect occurs.

Heroic Individual Leaders

The concept that leaders are exceptional individuals, possessing unique traits that enable them to influence and direct others effectively, often single-handedly overcoming obstacles.

Dyadic Processes

Interactions and exchanges that occur between two individuals, often in a leadership or partnership context.

Unidirectional Causality

A relationship where one variable directly influences another, but not vice versa.