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Define and explain the three lags discussed in monetary policy. For each type identify a
Jproblem caused by the lag.
Observation
The active acquisition of information from a primary source using the senses or recording devices.
Registering Research
involves formally recording the details of a research study before it commences to ensure transparency and reduce publication bias.
Testability
The ability of a hypothesis or theory to be tested through scientific experimentation or observation, allowing for empirical evidence to support or refute it.
Disproved
The status of a hypothesis or theory that has been shown to be false or incorrect through empirical evidence or logical analysis.
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