After World War II the average U.S. recession has lasted:
a. a few months.
b. about half a year.
c. a little less than a year.
d. about three weeks.
e. about two years.
Question 2
Which of the following pairs of lags are typically shorter for monetary policy than for fiscal policy?
a. The recognition lag and the implementation lag
b. The effectiveness lag and the decision-making lag
c. The decision-making lag and the implementation lag
d. The implementation lag and the effectiveness lag
e. The recognition lag and the effectiveness lag
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