The amount of time that elapses between the implementation of a policy and the results of that policy is
A. fiscal policy.
B. the recognition time lag.
C. the effect time lag.
D. the action time lag.
Answer: C
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A price level increase tends to reduce net exports, thereby reducing the amount of real goods and services purchased in the United States. Economists refer to this phenomenon as
A) the barrier effect. B) the Gross Domestic Product (GDP) effect. C) the open-economy effect. D) the wealth effect.
Which of the following industries is most likely closest to achieving perfect price discrimination?
A) the airline industry B) the wheat industry C) the textbook industry D) the toilet paper industry E) the soft drink industry
Frictional unemployment
A) includes discouraged workers. B) is voluntary part-time unemployment. C) is unemployment associated normal labor turnover. D) is unemployment associated with declining industries.
According to Nobel laureate Douglass North, one reason why the Industrial Revolution occurred in England before many other countries was because the king in England consistently maintained control over the court system and the government
Indicate whether the statement is true or false