The Lucas Critique Argues That an Econometric Model Constructed Using

Multiple Choice

The Lucas critique argues that an econometric model constructed using past data

A) may be appropriate for short-run forecasting,but is inappropriate for policy analysis.
B) may be appropriate for policy analysis,but is inappropriate for short-run forecasting.
C) is appropriate for short-run forecasting and policy analysis.
D) is inappropriate for policy analysis and short-run forecasting.