The Mean Absolute Deviation (MAD) for the Forecasts Shown in the Following

question 35

Multiple Choice

The mean absolute deviation (MAD) for the forecasts shown in the following table is:
$\begin{array} { | l | l | l | } \hline \text { Month } & \text { Forecast Demand } & \text { Actual Demand } \\\hline \text { April } & 190 & 180 \\\hline \text { May } & 175 & 200 \\\hline \text { June } & 190 & 200 \\\hline \text { July } & 240 & 220 \\\hline \text { August } & 225 & 195 \\\hline\end{array}$

• A) more than 10 but less than or equal to 20.
• B) more than 20 but less than or equal to 30.
• C) more than 30 but less than or equal to 40.
• D) more than 40 but less than or equal to 50.

Understand the relationship between inflation and unemployment as described by the Phillips curve.

Analyze the impact of monetary and fiscal policies on inflation and unemployment.

Identify the effects of supply shocks on the economy's output, inflation, and the Phillips curve.

Grasp the concept of the short-run and long-run Phillips curves and their implications for monetary policy.

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Definitions:

Skeletal Muscle

Muscle tissue that is attached to bones and is responsible for initiating and controlling voluntary movements.

Tubular Maximum

The maximum rate at which substances can be reabsorbed or secreted by the renal tubules in the kidneys.

Amino Acid

Class of organic acids that constitute the building blocks for proteins.

Reabsorbed

The process by which substances are taken back into the body's tissues, often referring to the kidneys' function of reclaiming water and solutes.