When using extrapolation to forecast
A) a time series of past observations is used.
B) there is a large error term in the results.
C) predictions can only be made about the future.
D) dummy variables can skew the results.
A
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According to this Application, lower oil prices may affect
A) aggregate supply. B) aggregate demand. C) both aggregate demand and aggregate supply D) neither aggregate demand and aggregate supply
The pollution created when coal is burned by utilities to generate electricity is an example of ________
A) a marginal benefit to coal producers B) a welfare cost C) an external cost D) a cost paid by the utilities
Less of an economy's resources will be channeled into building new factories and equipment when: a. interest rates are high
b. households decide to save more of their income. c. firms are optimistic about their future profits. d. aggregate income increases. e. an economy has a trade deficit.
When gross private domestic investment exceeds depreciation, it can be concluded that:
A. the economy is exporting more than it imports. B. net investment is positive. C. the economy is importing more than it exports. D. net investment is negative.