Macroeconomic forecasts from different computer models are usually Very different because the models are based on different data sets, different assumptions, and different macroeconomic theories.Very similar because the models use the same data, and standardized assumptions so it does not matter whether a supply-side economist or a Keynesian economist conducts the research.Very similar because the models must conform to high government regulatory standards.About the same because political objectives never conflict with good economic policies.Very different because it is impossible to determine who funded the research.

In an economy, when using different computer models or economic models, it can be seen that they use different economic approaches to make macroeconomic forecasts.Macroeconomics forecast from different computer models are usually very similar because, even if different economic schools analyze data in different manners using standardized assumption, final outcome from all approaches are similar as they all use same data for specfiic condition. Hence, the correct option is: Very similar because the models use the same data, and standardized assumptions so it does not matter whether a supply-side economist or a Keynesian economist conducts the research.

Answered: Macroeconomic forecasts from different…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Macroeconomic forecasts from different computer models are usually

Very different because the models are based on different data sets, different assumptions, and different macroeconomic theories.
Very similar because the models use the same data, and standardized assumptions so it does not matter whether a supply-side economist or a Keynesian economist conducts the research.
Very similar because the models must conform to high government regulatory standards.
About the same because political objectives never conflict with good economic policies.
Very different because it is impossible to determine who funded the research.

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