1. 1.The _________ lag is the time between the start of a new phase of the business cycle and policy response to it. It

[answerhappygod]

1.
1.The _________ lag is the time between the start of a new phase
of the business cycle and policy response to it. It is particularly
long for ______ policy.
a.outside, fiscal
b.inside, monetary
c.outside, monetary
d.inside, fiscal

2.The empirical evidence shows that countries with more politically
independent central banks
a.pay central bankers higher salaries.
b.have lower average inflation rates.
c.raise more revenue through seigniorage.
d.have more volatile unemployment.
3.The difference between the government debt and the budget
deficit is
a.the government debt shows the annual discrepancy between
government spending and tax revenue and the budget deficit is the
accumulated balance of past government debts.
b.none of the above
c.not significant because both move in the same direction.
d.the budget deficit shows the annual discrepancy between
government spending and tax revenue, while the government debt is
the accumulation of past budget deficits.