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how do the new long run equilibrium values of the endogenous variables compare to their initial values |
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Answer» In an economic MODEL, an EXOGENOUS VARIABLE is one whose value is determined outside the model and is IMPOSED on the model, and an exogenous change is a change in an exogenous variable. In contrast, an endogenous variable is a variable whose value is determined by the model. I hope it will help you DEAR |
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