In Total, How Long Can the Lags Associated with Discretionary

question 110

Multiple Choice

In total, how long can the lags associated with discretionary policy extend?  

• A) from the time a problem occurs in the economy through to the time the problem is recognized by the government 
• B) from the time a problem is recognized by the government through to the time an agreed-on policy is approved 
• C) from the time a policy is implemented through to the time the policy's impact is felt in the economy 
• D) from the time a problem occurs in the economy through to the time a corrective policy has an impact on the economy

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Definitions:

Basic Element

A fundamental or essential component or aspect of something.

Consideration

In contract law, a basic requirement for an enforceable agreement under traditional contract principles, defined in this text as legal value, bargained for and given in exchange for an act or promise. In corporation law, cash or property contributed to a corporation in exchange for shares, or a promise to contribute such cash or property.

Capacity

The ability to incur legal obligations and acquire legal rights.

Offer

A proposal by one person to another that is intended to create legal relations on acceptance by the person to whom it is made.