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DECISION LAG: In the context of economic policies, a part of the implementation lag involving the time it takes for policy makers to determine the appropriate policy to undertake. Another part of the implementation lag is the action lag. For fiscal policy, this involves Congress and the President debating, passing, and signing legislation that changes government spending or taxes. For monetary policy, this involves a meeting among the members of the Federal Reserve Open Market Committee. The decision lag is usually shorter for monetary policy than fiscal policy.
Visit the GLOSS*arama
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"To understand a man, you must know his memories. The same is true of a nation." -- Anthony Quayle, Actor
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P&L
Profit and Loss
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