Problem
1. Explain the nature and purpose of economic forecasting and how significant it is in the context of managerial economics.
2. List and compare the various models of forecasting in terms of their advantages, disadvantages, and how they fit into specific needs of the business firms.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.