Question

Difference between exogenous and indigenous variables in economics

Answer 1

Exogenous variables are used in the short-run, whereasendogenous variables are used in thelong-run. ... Exogenous variables are those that the model takes as given, while endogenous variables are those that the model tries to explain.

Answer 2

What is the main difference between exogenous and endogenous variables? Exogenous variables are used in the short-run, whereasendogenous variables are used in thelong-run. ... Exogenous variables are those that the model takes as given, while endogenous variables are those that the model tries to explain.