Computer Forecasting Models Have

question 118

Multiple Choice

Computer forecasting models have

• A) been able to forecast changes in the growth rate of real GDP with considerable accuracy.
• B) had only limited success predicting turns in key economic variables such as real GDP.
• C) been able to accurately forecast the future direction of inflation but not real GDP.
• D) been able to accurately forecast the future direction of real GDP but not inflation.

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Definitions:

Backward Integration

A business strategy where a company expands its role to fulfill tasks formerly completed by businesses up the supply chain.

Forward Integration

A business strategy where a company extends its operations by moving towards the direct control of its distribution or supply chain further down the production process.

Retailer

A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier.

Retailer-sponsored Cooperative

A group of independent retailers who collectively purchase goods, share marketing efforts, and distribution channels to compete with larger chains effectively.