The delay between the time a policy is enacted and the time the policy has its effect on the economy is called
A) the impact lag.
B) the implementation lag.
C) the government lag.
D) the recognition lag.
Ans: A) the impact lag.
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About ________________ of all Americans volunteer each year in the non-profit sector
a. one-tenth b. one-quarter c. one-half d. 90%
An optimizing consumer will select a consumption bundle in which
a. income is maximized, and prices are minimized. b. utility is maximized, and prices are minimized. c. utility is maximized, subject to budget constraints. d. utility is maximized, and indifference curves are linear.
Oligopolists consider the possible responses of rivals when making decisions.
Answer the following statement true (T) or false (F)
"The problem of getting people to buy car insurance is best solved by the market." This belief belongs to which type of economist?
A. Behavioral B. Traditional C. Keynesian D. Modern