In General,the Longest Lag for

question 38

Multiple Choice

In general,the longest lag for

• A)both fiscal and monetary policy is the time it takes to change policy.
• B)both fiscal and monetary policy is the time it takes for policy to affect aggregate demand.
• C)monetary policy is the time it takes to change policy,while for fiscal policy the longest lag is the time it takes for policy to affect aggregate demand.
• D)fiscal policy is the time it takes to change policy,while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand.

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Definitions:

Auto Repairs

Services aimed at fixing or maintaining the functional aspects of vehicles, ensuring they are safe and operational.

Gasoline

A liquid fuel made from petroleum and used primarily to power internal combustion engines.

Cost Function

A mathematical representation that describes how costs incurred by a firm change with variations in the level of production activity.

Output

The amount of products or services generated by a company, sector, or economic system within a specific time frame.