Forecasting Real GDP Is

question 2

Multiple Choice

Forecasting real GDP is

• A)done as well by the average person as by economic forecasters.
• B)easiest in terms of predicting turning points.
• C)easy in the short term, but hard in the long term.
• D)easy in the long term, but hard in the short term.
• E)always easy.

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Definitions:

Union Activities

Various actions undertaken by labor unions including organizing, bargaining, striking, and other efforts to protect and advance members' interests.

Injunctions

Legal orders issued by a court that direct a party to do or refrain from doing specific acts, often used in labor disputes to halt strikes or picketing.

Yellow Dog Contracts

Employment agreements where the employee pledges not to join a labor union during the term of employment; these are illegal in the United States.

Free Trade

An economic policy that allows imports and exports among countries with minimal regulatory barriers or tariffs.