Solved: How does the long and variable time lag affect the ability, Macroeconomics

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How does the long and variable time lag affect the ability

Problem

Many economists believe that there is a "long and variable time lag" between the time a change in monetary policy is instituted and the time its primary impact on output, employment, and prices is felt. If true, how does this long and variable time lag affect the ability of policy makers to use monetary policy as a stabilization tool?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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