The lawmaking time lag is best described as the time that it takes
A) Congress to realize that new laws must be passed to change taxes or spending.
B) a newly passed law to become the norm in daily lives.
C) the President to sign a bill sent from Congress.
D) a jury to render a verdict.
E) Congress to pass laws needed to change taxes or spending.
E
You might also like to view...
Producer surplus equals the
a. value to buyers minus the amount paid by buyers. b. value to buyers minus the cost to sellers. c. amount received by sellers minus the cost to sellers. d. amount received by sellers minus the amount paid by buyers.
Answer the following statements true (T) or false (F)
1. Business cycles refer to short term fluctuations in prices. 2. Real GDP can change due to changes in the price level. 3. If nominal GDP is rising faster than real GDP, then inflation must be occurring. 4. Real GDP is calculated using current prices of outputs. 5. Inflation refers to an increase in the overall level of prices.