In Describing Forecasting, Which of the Following Statements Is False

Multiple Choice

In describing forecasting, which of the following statements is false?

A) Even when forecasting errors are small, they can have a large impact when used for determining large aggregates in the economy such as GDP.
B) Current economic conditions are given more weight than forecasts in formulating policy.
C) Forecasting errors are usually very minor since forecasting is a nearly perfect science.
D) Forecast errors can be fairly large.