The macroeconomic forecast of the Congressional Budget Office (CBO) used to predict the two-year average growth rate in real GDP
A) tends to be highly inaccurate since it is based on fairly unrealistic assumptions
B) accurately predicted the last three recessions in 1991/92, 2001/02, and 2007-09
C) overestimated the actual growth rates of GDP from 2004 - 08
D) was on target in predicting the high growth rates of GDP in the mid to late 1990s
E) both C and D
Correct Answer:
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