Answered: An endogenous variable is a variable…

An endogenous variable is a variable explained by an economic model. An exogenous variable is a variable that is taken as given and is not explained by an economic model. True O False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

An endogenous variable is a variable explained by an economic model. An
exogenous variable is a variable that is taken as given and is not explained by
an economic model.
True
O False

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