The time it takes for the policy actually to have an impact on the economy is called
A) the data lag.
B) the recognition lag.
C) the legislative lag.
D) the implementation lag.
E) the effectiveness lag.
E
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In light of higher gas prices, Skip Miles asks himself if it's worth keeping his 10 cylinder Chevy Suburban. His concern is ultimately about
A) engineering efficiency. B) economic efficiency. C) technical efficiency. D) environmental efficiency.
Christina Romer argued that
A) measured properly, GNP before 1929 varied substantially less over time than the official statistics showed. B) measured properly, GNP after 1929 varied substantially more over time than the official statistics showed. C) measured properly, economic expansions after 1929 were shorter than the official statistics showed. D) measured properly, economic expansions before 1929 were shorter than the official statistics showed.
The difference between the total amount that people would have been willing to pay for the total quantity produced and consumed in a market and what they actually pay at the market clearing price is called
A) production excess. B) excess demand. C) market surplus. D) consumer surplus.
If the MPC = 1, the spending multiplier is:
a. infinite. b. zero. c. 10. d. 100. e. 1.