Endogenous variables are: (a) fixed at the moment they enter the model. (b) determined within the...
Endogenous variables are:
(a) fixed at the moment they enter the model.
(b) determined within the model.
(c) the outputs of the model.
(d) explained by the model.
(e) none of the above.
Homework Answers
Option B.
- Endogenous variables are determined within the model.
- They are also termed as the dependent variables as they are dependent on the functionalities of that model.
- The value of these variables changes based on the changes in the functionalities of those model's.
- For example, the equilibrium price is an endogenous variable in the supply and demand model as the changes in the equilibrium price is dependent on the supply and demand of a good.
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