The effect time lag of fiscal policy refers to
A. the difficulty in getting the President and the Congress to agree on an appropriate policy.
B. the time between the onset of a policy and when the policy has impact on the economy.
C. the time needed for Congress to enact a policy.
D. the delay in recognizing an economic problem.
Answer: B
Economics
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Which of the following is an example of a physical capital in agricultural production?
A) A common canal B) A farmer C) A road D) A tractor
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With respect to the labor supply curve, the income effect
A) reinforces the substitution effect. B) lowers the opportunity cost of labor. C) raises the opportunity cost of labor. D) influences a person to work less as the wage rate increases.
Economics