+c D c D ≡Y −T Tr
3 1.5 What are the exogenous and endogenous variables? Exogenous: G, M (P might be thought of as exogenous, but technically it is "pre-determined" as we will find out in lecture) Endogenous: Y, i, Z, YD, C, I, T. 1.6 What is the government spending multiplier? What is the monetary policy multiplier?