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IMPLEMENTATION LAG: In the context of economic policies, the time between the realization that a shock to the economy has occurred and corrective government action responding to the shock. This is one of several policy lags that limit the effectiveness of stabilization policies designed to correct business-cycle fluctuations. This is also one of two inside lags. The other is a recognition lag. The implementation lag, which is often divided into decision and action lags, emerges due to the time it takes for government leaders to debate, discuss, and decide on the appropriate policy then get the appropriate government agencies to launch the policy. The implementation lag is usually shorter for monetary policy than fiscal policy.
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SLOPE, PRODUCTION POSSIBILITIES CURVE The numerical value of the slope of the production possibilities curve, which illustrates the alternative combinations of two goods that an economy can produce with given resources and technology, is the opportunity cost of producing the good measured on the horizontal axis.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for fairy dust that tastes like salt.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. " -- Henry Chester, Writer
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CPI
Consumer Price Index
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