Typically,discretionary Fiscal Policy Changes Have to Be Approved by the Parliament

Multiple Choice

Typically,discretionary fiscal policy changes have to be approved by the parliament so a detailed proposal needs to be put forward by the government; parliamentary approvement may take a significant amount of time.As a result,________ for fiscal policy can be several months longer than for monetary policy.

A) the response and recognition lags
B) the recognition lag
C) the response lag
D) all three policy lags