Tax and spending policies affect aggregate demand only after some time elapses. Due to these time lags, fiscal policies end up being based on which of the following? Question 10 options: a) Forecasts on the future state of the economy that are often inaccurate b) All of these responses are correct. c) Forecasts on the present state of the economy that are often inaccurate d) Forecasts on the present state of the economy that are often accurate