One of the reasons that led to the inconsistency of the large structural macroeconomic models was
A. that endogenous variables such as foreign output were treated as exogenous.
B. that all equations were estimated together to test their interrelations with one another.
C. that individual equations were estimated in isolation with one another.
D. that exogenous variables such as level of technology were treated as endogenous.
Answer: C
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