Based on the Record of Past Business Cycles as Well

Multiple Choice

Based on the record of past business cycles as well as Fed behavior,we can estimate that for expansionary monetary policy the overall lag is approximately

A) eighteen months,about half of which is the effectiveness lag.
B) twenty months,slightly more than three-quarters of which is the effectiveness lag.
C) ten months,with less than half due to the effectiveness lag.
D) nine months,with the effectiveness lag responsible for about six months.