Which of the Following Methods Tells Whether the Forecast Tends

question 69

Multiple Choice

Which of the following methods tells whether the forecast tends to be too high or too low?

• A)MAD
• B)MSE
• C)MAPE
• D)decomposition
• E)bias

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Definitions:

Natural Rate

The unemployment rate at which the economy operates at full capacity, with only frictional and structural unemployment.

Right-To-Work Laws

Laws that prohibit union security agreements, ensuring that employment is not conditioned on union membership or financial support.

Union Members

Workers who belong to a labor union, an organization that represents and fights for workers' rights and interests.

Economists

Professionals who study the production, distribution, and consumption of goods and services, analyzing economic issues and trends.