When Experts Made Predictions About U

question 9

Short Answer

When experts made predictions about U.S. and world politics over the next several years, their accuracy was generally__________, and they were __________ confident in their predictions.

---

Definitions:

Profit

The financial gain made in a transaction or operation, calculated as total revenues minus total costs.

Production Function

A mathematical relationship expressing the amount of output generated from different amounts of inputs.

Profit

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Commodity

A fundamental merchandise in commerce that can be swapped with other merchandise of a similar nature.