After the housing bubble popped in 2007, Congress did not pass a stimulus bill until February 2009. This is an example of:

Question

Quizplus · Accepted Answer

This is an example of a formulation lag, which is the time it takes for policymakers to identify a problem and create a policy solution. Congress took over a year to pass a stimulus bill after the housing bubble burst, indicating a significant formulation lag.

After the Housing Bubble Popped in 2007, Congress Did Not