Question 1
An implementation lag is
◦ the time it takes to see if that there has been a shock to the economy.
◦ the time it takes the Fed or Congress to change economic policy.
◦ the time it takes for a new economic policy to affect behavior in the economy.
◦ None of these.
Question 2
A response lag is
◦ the time it takes to see if that there has been a shock to the economy.
◦ the time it takes the Fed or Congress to change economic policy.
◦ the time it takes for a new economic policy to affect behavior in the economy.
◦ None of these.