redundant variables

[bibimiwi]

Hello,

I do need some help regarding the redundant variable test.
I estimated an equation with all explanatory variables I could think of. Then I wanted to see, which of them are insignifact to the interpretation of my model. So I picked out one varible and performed the redundant variables test in eviews. As a result I got, that the p-value of the likelihood ratio was much greater than 0.05. Therefore I deleted this variable and reestimated my equation. I did this over and over again until there was only 1 explanatory variable left.
Is the conclusion now, that my model can only be explained by this singel variable??

Thank you very much