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For each situation below, match it to the appropriate policy problem. We are in a recession in 2009. Congress and the President approve infrastructure projects

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For each situation below, match it to the appropriate policy problem. We are in a recession in 2009. Congress and the President approve infrastructure projects to put people to work, but it takes time to review proposals and get construction bids. In 2001, the Federal Reserve cuts interest rates to encourage spending, but, spooked by the 9/11 attack, firms and 1. Decision lag consumers are not increasing their spending. 2. implementation lag We are in an economic 3. recognition lag recession in 1981. President Reagan 4. impact lag wants both tax and spending cuts, but Congress will not agree with the spending cuts. It is November 2020 and the coronavirus starts to spread in the Wuhan province in China. U.S. officials are trying to determine how much or if this will affect the U.S. economy

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