The Leading Macroeconometric Models Currently in Use in Australia and the U.S

question 18

Multiple Choice

The leading macroeconometric models currently in use in Australia and the U.S.:

• A) predict the same duration of the effects of a policy change.
• B) predict the same response of output to a monetary expansion.
• C) rely on the same set of assumptions.
• D) demonstrate that there is substantial uncertainty about policy effects.
• E) yield identical forecasts.

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Definitions:

Cross-tabulations

Statistical tools that summarize the distribution of two or more categorical variables in the form of a table, allowing for examination of relationships between them.

Categorical Data

Data that represent characteristics and can be divided into groups or categories that are distinctly different from one another.

Scatter Plots

Graphical illustrations that use cartesian coordinates to display values for typically two variables, allowing for the detection of any correlational patterns.

Dot-scale Diagrams

A graphical representation where dots are used to depict frequencies of categories for small or medium-sized datasets.