The principal lag for monetary policy
A.
and fiscal policy is the time it takes for policy to change spending.
B.
is the time it takes for policy to change spending. The principal lag for fiscal policy is the time it takes to implement it.
C.
is the time it takes to implement policy. The principal lag for fiscal policy is the time it takes for policy to change spending.
D.
and fiscal policy is the time it takes to implement policy.