As soon as possible

1. Mis-timed economic policy may end up: A) making the business cycle more extreme. B) having positive short run effects but negative long run effects. C) becoming countercyclical. D) smoothing out the business cycle too much. 2. Policy that is countercyclical attempts to: A) boost the economy when it is already growing. B) slow down an economy that is heading into recession. C) reinforce the business cycle. D) counteract the business cycle. 3. When policymakers set their plans in motion, it can take months or years before the full impact of these plans is felt on the economy. This is known as: A) a data lag. B) an administrative lag. C) an inside lag. D) an effectiveness lag. 4. The most up-to-date statistics about the economy are always a few months old. This gives rise to: A) an administrative lag. B) a data lag. C) an effectiveness lag. D) an outside lag. question 1