The long and variable lag before a policy influences the economy makes the job of economic forecasters:
A) impossible.
B) easier.
C) less important.
D) more important.

Question

Quizplus · Accepted Answer

The long and variable lag before a policy influences the economy makes the job of economic forecasters more important. Economic forecasters have to predict how policies will impact the economy in the future, which could be months or even years away. Since policies can take time to have an effect, accurate forecasting is essential to making informed decisions about the economy in the present.

The Long and Variable Lag Before a Policy Influences the Economy