The recognition lag refers to the time it takes

Select one:

For the impact of the fiscal policy to be felt in the economy

For the financial system to process the payments involved in the fiscal policy

To understand there is a need to implement fiscal policy

Politicians to agree on what the appropriate fiscal policy is

The federal budget consists of

Select one:

Consumption spending and government spending

Consumption spending and investment spending

Government spending, transfer payments and taxation revenue

Consumption spending, investment spending and net exports