Congress just received a report that the economy began a downturn five months ago. They vote to implement an expansionary policy to address it, but they are already five months too late to completely stop the damage. This is an example of ______.
a. an impact lad
b. a crowding-out lag
c. a recognition lag
d. an implementation lag
c. a recognition lag
You might also like to view...
Refer to Table 20-14. The real average hourly earnings for 1965 in 2010 dollars equal
A) $3.87. B) $5.80. C) $12.10. D) $18.14.
Assume:
C = 40 + 0.8(Y - T) G = 10 I = 20 T = 0, where T are taxes. (a) Calculate Y at equilibrium. (b) Calculate C, I, and G at equilibrium. (c) Now assume, EX = 5 + 4EP /P IM = 10 + 0.1 (Y - T) - 3EP /P E = 3 P = 1.5 P = 2 Find equilibrium Y.
Independent, non-monopoly firms have an incentive advantage over monopolies in new-product innovation
Indicate whether the statement is true or false
If the elasticity of supply coefficient for a good is one-sixth (in absolute terms), we know:
a. that for every 1% increase in quantity, there will be a 6% increase in price. b. that for every 1% increase in quantity, there will be a 6% decrease in price. c. that for every 6% increase in quantity, there will be a 1% increase in price. d. that for every 6% increase in quantity, there will be a 1% decrease in price.