Homework Answers
Due to presence of HOMEWORKLIB POLICY, I am answering first question.
2.
a.
Two equation model:
where,
ai is coefficient of variable i.
b.
P and Q are endogenous (2) and the rest are exogenous.
c.
If endogenous variables are less than 2 then no solution exists.
If endogenous variables are more than 2 then multiple solutions exist.
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