The action time lag is the time period that elapses
A) between when an economic problem manifests itself and it is officially acknowledged.
B) between the recognition of an economic problem and implementing policies to solve it.
C) between implementing policies to solve an economic problem and when the results of that policy can be measured.
D) between the beginning of the budgetary process and the final budget resolution.
B)
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If a positive relationship exists between x and y:
A. an increase in x will cause y to decrease. B. a decrease in x will cause y to increase. C. the relationship will graph as an upsloping line. D. the vertical intercept must be positive.
The lower portion of the circular flow model contains factor markets in which households receive:
A. output of all final goods and services produced. B. savings, spending, and investment. C. goods and services. D. wages, rents, interest, and profits.