he Congressional Budget Office admits that its forecasts of next year’s GDP are off by an average of 0.5 percent. a. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $18 trillion economy? $ billion b. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $22 trillion economy? $ billion
he Congressional Budget Office admits that its forecasts of next year’s GDP are off by an average of 0.5 percent. a. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $18 trillion economy? $ billion b. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $22 trillion economy? $ billion
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The Congressional Budget Office admits that its
a. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $18 trillion economy?
$ billion
b. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $22 trillion economy?
$ billion
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