The time between the implementation of a fiscal action and when that action affects output, employment, or the price level is called a(n):
a. recognition lag

Which of the following is important in determining the extent of competition in an industry?

A) the level of market demand for the industry's product B) whether or not the industry product is differentiated or standardized C) the minimum efficient scale of production relative to market demand D) the minimum level of short-run average total costs of production

Suppose Matt's New Cars issues and sells a one-year discount bond for $9,259 and repays $10,000 at maturity. The interest rate on this bond would be

A) 2.6%. B) 7.41%. C) 8%. D) 10%.