Which Statement Is True of an Exogenous Variable in an Economic

question 56

Multiple Choice

Which statement is true of an exogenous variable in an economic model?

• A)It has no direct relation to the endogenous variables.
• B)Its value within the model cannot be changed.
• C)It is often a policy variable.
• D)It is explained inside the model.
• E)All of the above.

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Definitions:

Export-Type Entries

Records or transactions that represent the sale of goods and services from one country to consumers in another country.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, leading to a negative balance of trade.

Aggregate Output

The total value of goods and services produced in an economy over a specific period of time.

Consumers Benefit

The advantages or utility that consumers receive from purchasing and using goods and services, typically measured in terms of satisfaction or utility gained.