The lag between the time the need for fiscal action is recognized and the time action is taken is referred to as the:
A. operational lag.
B. recognition lag.
C. administrative lag.
D. crowding-out lag.
Answer: C
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An upward shift in the Fed's reaction function is equivalent to:
A. an increase in the Fed's long-term target for inflation. B. a decline in the Fed's long-term target for inflation. C. a downward shift of short-run aggregate supply D. an upward shift of short-run aggregate supply
Keynesian economics focuses on the role of aggregate spending in determining the level of real GDP
a. True b. False Indicate whether the statement is true or false
The general shape of the short-run aggregate supply curve is: a. upward sloping
b. downward sloping. c. vertical. d. horizontal.
What are the constraints on deposit creation for the banking system?
What will be an ideal response?