The view that inappropriate monetary policy was the main reason for the depth of the Great Depression in the United States is most closely associated with:

Which of the following are lags that fiscal policy makers must cope with?

A) effect time lags B) recognition time lags C) action time lags D) All of the above are correct.

A well-known women's college whose tuition lagged below similar schools found recruiting difficult and enrollment falling. A substantial tuition increase was implemented, and dormitories were soon full again. This can be explained by

a. the law of demand. b. the fact that education at the school was an inferior good. c. the fact that people sometimes base perceptions of quality on price (snob effect). d. elastic demand.