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Scenario

A set of assumptions on policy choices and the values of exogenous variables that will be used to determine the future developments of an economy. The assumptions, for example about government tax and spending policies, can be varied to produce alternative scenarios. The construction of alternative scenarios is employed to consider the effects of different policies and the robustness of conclusions to alternative values of exogenous variables.

Reference: Oxford Press Dictonary of Economics, 5th edt.