What are the three policy lags

Reference no: EM13176758

According to the cruise ship example:

a) what are the real and what are the nominal objectives (goals) of macroeconomic policymakers?

b) what are the three policy lags and how do they differ with regard to fiscal vs. monetary policy?

c) go to FRED and search for UNRATE and compare the most recent unemployment rate to the rate associated with full employment as defined by the series NROU on FRED. Note that NROU is quarterly data so match the quarter with the most recent unemployment statistic. Which is higher and in terms of policy, should policymakers try to stimulate the economy or should they try to slow it down?

Reference no: EM13176758

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