Economic forecasting is not perfect:
A) So this means that any attempt to do so should be abandoned.
B) But this does not mean no attempt should be made to make forecasts.
C) Because the information on which it is based is always inaccurate.
D) It is only based on normative information not positive information.

Question

Quizplus · Accepted Answer

Economic forecasting is not perfect, but it is still important to make attempts to forecast in order to make informed decisions. While the information on which the forecasts are based may be inaccurate, it is still better than making decisions blindly. Additionally, while economic forecasting is based on both positive and normative information, the inaccuracy of the information is the main reason that forecasting is imperfect, not the use of normative information. Therefore, choice B is the best answer.

Economic Forecasting Is Not Perfect