Answer:
True
Explanation:
As per the contract, the builder is supposed to receive the payment once the entire building is fully completed. When a tornado struck the area and demolished the building, the contractor finds himself at square one with nothing to show for.
The law is enforced in literal terms and unless a fully constructed building stands there, the contract will not be fulfilled and he will not be paid.
Therefore the statement above is true in its form.
Answer: Administrative lag
Explanation:
Administrative lag is defined as the lag of time that occurs between any issue identification and measure take to handle and correct the problem by finding solution.
In terms of economic field, the time required to recognize and realize the change in tax and the time to enact on those modification. This time gap is known as administrative lag.
