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FAITHBELLE FAITHBELLE
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5 years ago

Question 1.

Time lags are delays in the economy's response to stabilization policies. For a particular stabilization policy, which of the following represents the correct order in which these time lags occur?



▸ implementation lag → response lag → recognition lag

▸ response lag → implementation lag → recognition lag

▸ recognition lag → implementation lag → response lag

▸ implementation lag → recognition lag → response lag

Question 2.

Because Congress decides on the federal government's budget during the year prior to when it will take effect, the tax laws and spending programs embodied in the budget ________ once they are in place. Because of this, the implementation lag for fiscal policy is ________.



▸ are easy to change; often quite long

▸ are hard to change; often quite long

▸ are easy to change; usually very short

▸ are hard to change; usually very short
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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samah952samah952
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FAITHBELLE Author
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