Answer Happy

Which of the following scenarios is an example of a data lag? O The economy enters a deep recession and Congress passes spending on public works that will take years to plan for and build. O The economy enters a deep recession on the same day that new quarterly data show positive economic growth. O The economy enters a deep recession, and Congress takes two months to approve an extensive tax cut bill. Which of the following scenarios is an example of a legislative lag? Policymakers obtain relevant economic data months after a recession has already begun. O In response to a recession, Congress passes a spending bill for interstate highway upgrades that will take years to plan and complete. O A new law requires that all new spending bills go through at least one month of debate before receiving a congressional vote.