Question 1
The ________ lag for fiscal policy requires changes in congressional-approved spending and tax programs.
◦ reorganization
◦ response
◦ implementation
◦ recognition
Question 2
The implementation lag for monetary policy requires
◦ congressional changes in spending and taxes.
◦ rather immediate changes in open market operations.
◦ changes in state funding rebates.
◦ changes in exports and imports.