Question: Short Question 1: (21 points ) Els question Is about the Solow growth model . The economy is initially in steady state. The Solow economy

Short Question 1: (21 points ) Els question Is
Short Question 1: (21 points ) Els question Is about the Solow growth model . The economy is initially in steady state. The Solow economy can be described by the following equations: AKHI: Iti th where (5 > U is the depreciation rate of capital . (a) What do we mean by an endogenous variable in economics? List the endogenous variables in the Solow model. Also list the exogenous variables and parameters. Briefly explain What each of the exogenous variables and parameters mean. (4 points)

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