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For each of the separate scenarios, discuss the associated shortcoming of fiscal policy: (1) recognition lag; (2) implementation lag; (3) impact lag; (4) crowding out; or (5) savings shift

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For each of the separate scenarios, discuss the associated shortcoming of fiscal policy:

(1) recognition lag; (2) implementation lag; (3) impact lag; (4) crowding out; or (5) savings shift.

1. The government can understand the economy better if data are collected and reported more frequently.
2. The government raised the government spending 2 years ago. Yet no effect has been observed so far.
3. The government is running into a huge deficit. Households prepare for it now by saving more.
4. Government keeps borrowing and interest rate continues to rise. Firms cut the purchases on machines.