Refer to the graph shown. When the market is in equilibrium, consumer surplus is equal to:

The gap that exists when equilibrium real GDP is less than full-employment real GDP is

A) the short-run aggregate supply curve. B) money illusion. C) an inflationary ga

The answer is: "Policymakers are not aware of changes in the economy as soon as they happen." What is the question?

A) What is the wait-and-see lag? B) What is the data lag? C) What is the effectiveness lag? D) What is the transmission lag? E) none of the above