variable
variableA quantity which is liable to change. Variables may measure prices, interest rates, income levels, quantities of goods, etc. An exogenous variable is one where the changes originate from causes outside the scope of a given model; an endogenous variable is determined within the model. Variables which are exogenous in one model may be endogenous in another. See also dependent variable, discrete variable, dummy variable, nominal variable, predetermined endogenous variable, real variable, and right hand variable.
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