Categories
Home/Business & Economics/Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government.

Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government.

One of the difficulties is instability in macroeconomic relations. This difficulty is a real problem in real-time forecasts and for other users of the macroeconomic models. These instabilities are created due to the many variables that are taken into consideration. One major tool or indicator of a shift in business cycles is a turn in the leading index. Turns in economic indicators can be used in this respect.

Major shifts in the USA economy are the change from recession phase to an expansion phase. Information used in these arenas can be obtained from one or more time-series publications within the country.

Major benefits that accompany accurate predictions include better performance in the countries economy as a whole and also the provision of a possibility to make strategic planning and positioning for various stakeholders and the government. Accurate predictions also help the country to foresee the coming opportunities and to place them rightly so as to grab these noble occasions.

Rate the answer:
Views: 34
Answer by Academic.tip's expert
An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2021) 'Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government'. 7 October.

Reference

Academic.Tips. (2021, October 7). Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government. https://academic.tips/question/discuss-the-difficulty-economists-encounter-when-trying-to-forecast-changes-in-the-business-cycle-as-well-as-the-tools-they-use-to-make-such-predictions-include-in-your-answer-examples-of-the-importa/

References

Academic.Tips. 2021. "Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government." October 7, 2021. https://academic.tips/question/discuss-the-difficulty-economists-encounter-when-trying-to-forecast-changes-in-the-business-cycle-as-well-as-the-tools-they-use-to-make-such-predictions-include-in-your-answer-examples-of-the-importa/.

1. Academic.Tips. "Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government." October 7, 2021. https://academic.tips/question/discuss-the-difficulty-economists-encounter-when-trying-to-forecast-changes-in-the-business-cycle-as-well-as-the-tools-they-use-to-make-such-predictions-include-in-your-answer-examples-of-the-importa/.


Bibliography


Academic.Tips. "Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government." October 7, 2021. https://academic.tips/question/discuss-the-difficulty-economists-encounter-when-trying-to-forecast-changes-in-the-business-cycle-as-well-as-the-tools-they-use-to-make-such-predictions-include-in-your-answer-examples-of-the-importa/.

Work Cited

"Discuss the difficulty economists encounter when trying to forecast changes in the business cycle as well as the tools they use to make such predictions. Include in your answer examples of the importance of accurate predictions for those who make decisions in the corporate world as well as in the government." Academic.Tips, 7 Oct. 2021, academic.tips/question/discuss-the-difficulty-economists-encounter-when-trying-to-forecast-changes-in-the-business-cycle-as-well-as-the-tools-they-use-to-make-such-predictions-include-in-your-answer-examples-of-the-importa/.

Copy
Describe and compare the following types of monopolies and the benefits of their existence: natural, technological, and franchises.
Discuss the power to tax that the U.S. Constitution grants to the federal government as well as the limits that are placed on such taxation powers. Also include in your answer a discussion on how the government uses such funds to benefit U.S. citizens.
Check the price of your paper