Which of the following statements regarding economic solutions is true?

The statement about fiscal policy being delayed by the political process is accurate. This is because fiscal policy, which involves government spending and taxation decisions, often requires the passage of legislation through various levels of government, including negotiation and debate among lawmakers. This inherently can lead to delays, as political disagreements and the need for consensus can slow down the implementation of policies designed to address economic issues.

In contrast, monetary policy, conducted by central banks, typically involves mechanisms that can be enacted more swiftly, such as changing interest rates, through meetings that convene at regular intervals and decisions that can be implemented almost immediately. Hence, it would not be accurate to say that monetary policy actions are immediately effective in the same way.

Public opinion can strongly influence economic policies, particularly in democratic governments; thus, the assertion that all economic policies are unaffected by public opinion is incorrect. Additionally, fiscal policy inherently relies on legislative action to modify taxes or approve budgets, making the idea that it does not require such actions fundamentally false. Therefore, the correct understanding revolves around the consideration of how the political process can slow down the implementation of fiscal policy solutions.