单选题 With respect to discretionary changes in both monetary and fiscal policy, the time period necessary to gather and tabulate reliable information about an economy's performance is best described as the:

A. impact lag.
B. recognition lag.
C. administrative lag.

【正确答案】 B

【答案解析】If interest rate parity does not hold, an arbitrage condition will exist; however, absolute purchasing power parity is a theoretical relation requiring determination of an average national price level.