The period between the implementation of a policy and its intended result is known as
A. the effect time lag.
B. the action time lag.
C. the data lag.
D. the recognition time lag.
Answer: A. the effect time lag.
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The objections to the Walsh-Healy Act of 1936, which mandated "prevailing wages" in government employment,
(a) concerned the tendency of government wages to undercut those of the private sector. (b) came from the labor unions. (c) held that unemployment would be maintained artificially high. (d) held that payment of prevailing wages would reduce the national debt too slowly.
Your friend Diana tells you that she thinks that her favorite softball team has a 70% chance of winning the next game because that is exactly the winning rate of her team in the last two seasons. This is an example of a(n)
A) objective probability. B) subjective probability. C) risk-averse statement. D) Friedman-Savage preference.
The Federal Reserve has been quite successful in keeping the inflation rate low for the past 20 years
a. True b. False
Which is greater -- economic profit or accounting profit?