The In the News article titled "Great Recession Officially Ended Last Year" states that the recession that started in December 2007 lasted until June 2009.The National Bureau of Economic Research took over a year to announce that the recession had ended.This suggests that
A) There are significant lags in response to policy.
B) The political business cycle is to blame for the economic situation.
C) Measurement difficulties prevent policy makers from identifying what is happening in the economy.
D) Economists could not agree on policy priorities.
Correct Answer:
Verified
Q119: Q120: The idea of rational expectations suggests that Q121: Stagflation is the simultaneous occurrence of substantial Q122: Automatic stabilizers cause an increase in total Q123: One World View article is titled "Comparative Q125: Time lags can cause economic policy to Q126: Fine-tuning involves the adoption of fixed policy Q127: Keynesians believe that budgetary restraint should be Q128: Average consumer prices are included in the Q129: Modern Keynesians believe that fiscal stimulus raises
A)Only
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