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:

Mutual Mistake

An error shared by all parties to a contract, possibly making the agreement voidable.

Unilateral Mistake

A situation where only one party to an agreement is mistaken about a basic assumption on which the contract is made.

Equity

The value of ownership interest in property, including shareholders' equity in a corporation, minus liabilities and debts.

Concealment

The active hiding of the truth about a material fact.