Asked by Colleen Tercek on May 07, 2024
Verified
Technological forecasts address the business cycle by predicting inflation rates, money supplies, housing starts, and other planning indicators.
Technological Forecasts
Long-term forecasts concerned with the rates of technological progress.
Business Cycle
The natural rise and fall of economic growth that occurs over time, including periods of prosperity, recession, depression, and recovery.
Inflation Rates
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
- Recognize the importance of technological forecasts in predicting elements of the business cycle.
Verified Answer
LN
Lening NunezMay 12, 2024
Final Answer :
False
Explanation :
Technological forecasts primarily focus on predicting the development and adoption of new technologies, rather than economic indicators like inflation rates and housing starts. Economic forecasts would be more relevant for addressing the business cycle.
Learning Objectives
- Recognize the importance of technological forecasts in predicting elements of the business cycle.