What was Klein's method of forecasting economic trends?
Casting bones
Astrology
Tarot
Creating computer models
Answer
To forecast economic trends, Klein created computer models that took into account the complex interrelationships between economic variables. He believed that the best way to understand the economy was to create a model that was as realistic as possible. His models were used to predict the effects of changes in government policy and to forecast economic growth.
Mastering Macro: The Legacy of Lawrence Klein
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