The Effect Time Lag of Fiscal Policy Refers to

question 134

Multiple Choice

The effect time lag of fiscal policy refers to

• A) the time needed for Congress to enact a policy.
• B) the delay in recognizing an economic problem.
• C) the time between the onset of a policy and when the policy has impact on the economy.
• D) the difficulty in getting the President and the Congress to agree on an appropriate policy.

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Definitions:

Karl Marx

A 19th-century philosopher and economist known for his critique of capitalism and his theories on socialism and communism.

Working Class

A social class comprising individuals engaged in manual labor or industrial work for wages.

Secularization Thesis

A theory suggesting the decline of the influence of religion in public life and institutions as societies become more modernized.

World Religions

The various organized belief systems around the globe, including Christianity, Islam, Buddhism, Hinduism, and Judaism, among others.