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Which of the following describes policy lag in the monetary policy process? Select one: a. The time between an actual economic change and policy impact

Which of the following describes "policy lag" in the monetary policy process? Select one: a. The time between an actual economic change and policy impact b. The time between recognizing an economic change and policy implementation c. The time between a policy being implemented and its impact on the economy d. The time between when an economic change is recognized and the policy has an impact

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