Match the following terms with their definitions. Recognition Lag Policy Lag Implementation Lag Impact Lag Discretionary Macroeconomic Policy Automatic Stabilizers Fiscal Policy Monetary Policy A. The time between when a policy is implemented and when it impacts the economy B. Changes in federal government taxation and spending. C. The time it takes to set in motion or implement the policy or policies. D. Changes in the quantity of money in circulation determined by the Federal Reserve Bank. E. The time it takes for the policy-makers to determine what policies or policy mix to adopt. F. The time lag between the time when the actually economy changes direction (up or down) and when economists are able to conclude that it did so and in what direction. G. Policies and programs that once enacted, provide counter-cyclical measures (anti-recession or anti-inflation) that kick-in automatically without requiring an additional decision. H. Policies that require the government decision each time they are to enacted.
QUESTION 3
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Match the following terms with their definitions.
Recognition Lag
Policy Lag
Implementation Lag
Impact Lag
Discretionary
Macroeconomic PolicyAutomatic Stabilizers
Fiscal Policy
Monetary Policy
A. The time between when a policy is implemented and when it impacts the economy
B. Changes in federal government
taxation and spending.C. The time it takes to set in motion or implement the policy or policies.
D. Changes in the quantity of money in circulation determined by the Federal Reserve Bank.
E. The time it takes for the policy-makers to determine what policies or policy mix to adopt.
F. The time lag between the time when the actually economy changes direction (up or down) and when economists are able to conclude that it did so and in what direction.
G. Policies and programs that once enacted, provide counter-cyclical measures (anti-recession or anti-inflation) that kick-in automatically without requiring an additional decision.
H. Policies that require the government decision each time they are to enacted.
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