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.
C
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Any action that gives rise to a demand for foreign currency is a
A) deficit item on the current, financial, or capital account. B) deficit item on the current account and a surplus item on the financial and capital accounts. C) surplus item on the current account and a deficit item on the capital and financial accounts. D) surplus item on the current, financial, or capital account.
In the period from 1929 through 1933, there were successive ________ in aggregate demand and ________ in short-run aggregate supply
A) increases; decreases B) decreases; increases C) decreases; no change D) increases; increases
In 2014, the federal government disbanded the practices of fixed direct payments and countercyclical payments to farmers
Indicate whether the statement is true or false
Refer to the information provided in Table 13.4 below to answer the question(s) that follow. Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $8 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $10; 6 B. $18; 2 C. $14; 4 D. $12; 5