Which of the Following Is True According to the Text

question 60

Multiple Choice

Which of the following is true according to the text?

• A) Forecasts in recent years have been very accurate.
• B) Use of the absolute forecast error as a percent of the realized value is a good measure to use in detecting a forecast bias.
• C) Forecasting errors are smaller when focused on longer term periods.
• D) None of the above.

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Definitions:

Labor Productivity

The measure of economic performance that indicates the amount of goods and services produced by one hour of labor.

Per-worker Production Function

An economic model representing the relationship between the amount of a single input, usually labor, and the amount of output produced per worker.

Political Environment

The set of legal, governmental, and social conditions that affect the operation of businesses and individuals.

Terror Attack

A violent act intended to create fear, perpetrated for a religious, political, or ideological goal.