According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?

Which of the following describes the relationship between the actual federal funds rate and that suggested by Taylor's rule following the recovery from the 2001 recession?

A) The federal funds rate was above that suggested by Taylor's rule. B) The federal funds rate was below that suggested by Taylor's rule. C) The federal funds rate was about equal to that suggested by Taylor's rule. D) There was not a clear relationship between the federal funds rate and that suggested by Taylor's rule.

Which of the following pairs of lags are typically shorter for monetary policy than for fiscal policy?

a. The recognition lag and the implementation lag b. The effectiveness lag and the decision-making lag c. The decision-making lag and the implementation lag d. The implementation lag and the effectiveness lag e. The recognition lag and the effectiveness lag