One Reason Why Technological Forecasting Can Be Difficult Is That

question 16

True/False

One reason why technological forecasting can be difficult is that we tend to move forward despite our limited knowledge about the future.

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Definitions:

Business Cycle Dating Committee

A group of economists that determines the dates of the beginning and end of recessions, marking the business cycle's phases.

Peaks And Troughs

Describes the high and low points in economic, financial, or business cycles, indicating periods of maximum and minimum activity or value.

Real GDP

Gross Domestic Product adjusted for inflation, which reflects the value of all goods and services produced by an economy in a year, measured in constant prices.

Unemployed

Individuals who are capable of working and seeking work but are without jobs during the period of assessment.