Assume that the BLS has reported unemployment has risen from 5.1% to 6.3% from D

Question

Assume that the BLS has reported unemployment has risen from 5.1% to 6.3% from December to January and that the BEA has reported that real GDP growth for January was -1.4%. Assume also that Congress has a stimulus plan put together that the President is willing to sign. Before the final vote on the stimulus plan, a Senator from California introduces an amendment aimed at controlling guns in the US. This amendment is ultimately not passed, but debate on it delays passage of the stimulus plan by three weeks. This would be an example of the _______ lag.

Explanation / Answer

This is a classic example of limplementation lag which is the time taken for any plan to get properly implemented.

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