The In the News article titled "It's official: the Great Recession ended last summer" 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:
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