Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation-for example for GDP, inflation, unemployment or the fiscal deficit-or at a more disaggregated level, for specific sectors of the economy or even specific firms.
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The definition of economic gain is opportunity costs that are deducted from revenues earned. Economic gains are good as it means a country is growing financially and economically.
James B. Ramsey has written: 'Economic forecasting' 'Economic forecasting-models or markets?'
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