The Inside Lag Is the Time

question 62

Multiple Choice

The inside lag is the time:

• A) before automatic stabilizers respond to economic activity.
• B) after automatic stabilizers respond to economic activity.
• C) between a shock to the economy and the policy action responding to the shock.
• D) between a policy action and its influence on the economy.

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Definitions:

Fair Average Quality

A standard indicating that the quality of goods or produce meets the median expectations, usually in commercial transactions.

Restatement Of Torts

A legal treatise published by the American Law Institute summarizing the general principles of common law torts in the United States.

Manufacturing Defects

Flaws or imperfections in a product that arise from the manufacturing process, resulting in the product deviating from its intended design or specifications.

402A

A section of the Restatement (Second) of Torts in the United States, making manufacturers and sellers liable for harm caused by defective products.