**Question:**If a macroeconomist studying the causes of unemployment suspects that changes in technology might play a role, then this macroeconomist is at which step in the process of developing an economic model?- ○ Compare the model with the data.- ● ~~Conduct prediction and policy analysis.~~- ○ Develop a model.- ○ Identify the endogenous variables.- ○ Identify the exogenous variables.**Explanation:**This question appears to focus on the steps of building an economic model, especially in the context of understanding how technological changes impact unemployment. The crossed-out option was “Conduct prediction and policy analysis.” This indicates that this step is not the current focus. Instead, identifying relevant variables or developing the model might be more appropriate as initial steps.

In macro-econometric models there are two types of variables: endogenous and exogenous. Exogenous…

If a macroeconomist studying the causes of unemployment suspects that changes in technology might play a role, then this macroeconomist is at which step in the process of developing an economic model? O Compare the model with the data. Conduct prediction and policy analysis. O Develop a model. O Identify the endogenous variables. O Identify the exogenous variables.

If a macroeconomist studying the causes of unemployment suspects that changes in technology might play a role, then this macroeconomist is at which step in the process of developing an economic model? O Compare the model with the data. Conduct prediction and policy analysis. O Develop a model. O Identify the endogenous variables. O Identify the exogenous variables.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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