Question Details

The variation in an economic time-series which is caused by major expansions 



1.	Time-series forecasting models:
a.	are useful whenever changes occur rapidly and wildly
b.	are more effective in making long-run forecasts than short-run forecasts
c.	are based solely on historical observations of the values of the variable being forecasted
d.	attempt to explain the underlying causal relationships which produce the observed outcome
e.	none of the above


	
	2.	The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:
a.	econometric technique
b.	time-series forecasting
c.	opinion polling
d.	barometric technique
e.	judgment forecasting


	
	3.	The use of quarterly data to develop the forecasting model Yt = a +bYt1 is an example of which forecasting technique?
a.	Barometric forecasting
b.	Time-series forecasting
c.	Survey and opinion
d.	Econometric methods based on an understanding of the underlying economic variables involved
e.	Input-output analysis

	

	4.	Variations in a time-series forecast can be caused by:
a.	cyclical variations
b.	secular trends
c.	seasonal effects
d.	a and b only
e.	a, b, and c


	
5.	The variation in an economic time-series which is caused by major expansions or contractions usually 
of greater than a year in duration is known as:
a.	secular trend
b.	cyclical variation
c.	seasonal effect
d.	unpredictable random factor
e.	none of the above




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