The Outside Lag Is Defined as the Length of Time

question 17

Multiple Choice

The outside lag is defined as the length of time it takes

• A)to recognize whether a disturbance is permanent or temporary
• B)to come up with the appropriate policy response to a disturbance
• C)to account for the recognition, decision, and action lags
• D)for a policy to affect the economy after its implementation
• E)for the public to form expectations about a newly announced policy change

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Definitions:

Colonial Planters

Landowners in colonial times, often in the Americas, who cultivated crops such as tobacco, cotton, and sugar on large plantations, typically using slave labor.

Luxuries

Items or services considered to be of high quality and comfort but not necessary for daily living.

Debt

An obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor.

Charleston

A historic city in South Carolina, known for its rich history, well-preserved architecture, and as a pivotal site in both the American Revolution and Civil War.