Examlex
Lorenzo quit smoking and reduced his alcohol intake.At the same time,he improved his healthy eating behaviors and increased his physical activity.Lorenzo's lifestyle changes are likely to __________.
Recessionary Gap
The difference between the actual output of an economy and its potential output if all resources were fully employed, indicating underperformance.
Expansionary Gap
A situation in an economy where total spending exceeds the production capacity, leading to inflationary pressures and a rise in output.
Effectiveness Lag
The time needed for changes in monetary or fiscal policy to affect the economy
Decision-making Lag
The delay between the identification of a need for a policy response and the implementation of the decision.
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