The correct answer is Option D.
Exogenous variables help to explain various factors or outcomes with in model by having a reason that is independent of the model.
What is Exogenous variables?
- A variable that is exogenous to the system is one that is unaffected by other variables. Consider a straightforward causal system, such as farming. Crop output is influenced by exogenous factors such as weather, farmer skill, pests, and seed availability.
- Exogenous variables help explain other factors or outcomes with in model by having a reason that is independent of the model.
- Exogenous variables are seen as independent in contrasting to endogenous variables. In other words, changes in one variable with in formula do not automatically or directly affect changes in another. Exogenous variables don't relate to one another directly or through a formula.
- An exogenous variable in an economic model is one whose value is established outside the model and imposed upon the model, whereas an . A change in an exogenous variable is known as an exogenous change.
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