Question 27 (0.5 points) Many economists think the effectiveness of discretionary fiscal policy is limited in stabilizing the economy because 1) the multiplier effects associated with fiscal policy take a long time; 2) there are long and uncertain lags in implementing fiscal policy. 3) changes in government spending and taxation are too small in relation to the size of the economny to have much effect; O a) 2 only O b) 1 and 3 c) 1 and 2 O d) 3 only O e) 1 only