The ability of macroeconomists to predict the future course of economic events:
A) is no better than the meteorologist's ability to predict the next month's weather.
B) is much better than the meteorologist's ability to predict the next month's weather.
C) has gotten worse over time.
D) is less precise than it was in the 1920s.

Question

Quizplus · Accepted Answer

Macroeconomists face many uncertainties and variables that shape the economy, making it difficult to accurately predict future events. Similar to meteorologists, they must rely on models and assumptions that may not reflect reality, leading to inaccurate forecasts. Therefore, macroeconomic predictions are often no better than weather forecasts.

The Ability of Macroeconomists to Predict the Future Course of Economic