Which of the Following Statement Is NOT True

Multiple Choice

Which of the following statement is NOT true?

A) Forecasting is an important input in decision making
B) Meese and Rogoff found forecasting models of exchange rates perform poorly out-of-sample
C) Boughton found that for the USD SDR exchange rate some fundamental exchange rate models . performed better than the random walk in out-of-sample testing
D) MacDonald and Taylor used an error correction model to show that the monetary model can. forecast no better than the random walk model