content area Part 1 The government just passed a new tax bill that will be applied to the economy next year. Most people will not immediately feel the impact of this new tax bill and not adjust their W-2 tax forms. The impact of the new tax bill won't become apparent to them until the following April when their tax bills are due. This problem is referred to as the Part 2 A. effect time lag, and it makes it difficult to use discretionary fiscal policy to close a recessionary gap. B. effect time lag, and it makes it difficult to use automatic stabilizers to close a recessionary gap. C. recognition time lag, and it makes it difficult to use discretionary fiscal policy to close a recessionary gap. D. recognition time lag, and it makes it difficult to use automatic stabilizers to close a recessionary gap