good vs in effect

good is a noun but in effect is not a noun.

Word	Noun	Adjective	Verb	Adverb
good	Yes	Yes	No	Yes
in effect	No	Yes	No	Yes

As adjectives, good and in effect are synonyms defined as:

Other synonyms of good include effective, in force.

good (noun)	in effect (noun)
a raw material that is sold in large quantities, usually to other businesses for manufacturing or production purposes
benefit
moral excellence or admirableness
that which is pleasing or valuable or useful

good (adjective)	in effect (adjective)
having desirable or positive qualities especially those suitable for a thing specified	exerting force or influence
morally admirable
promoting or enhancing well-being
having the normally expected amount
with or in a close or intimate relationship
thorough
generally admired
resulting favorably
not left to spoil
not forged
tending to promote physical well-being; beneficial to health
in excellent physical condition
appealing to the mind
agreeable or pleasing
exerting force or influence
most suitable or right for a particular purpose
capable of pleasing
deserving of esteem and respect
of moral excellence
having or showing knowledge and skill and aptitude
financially safe

good (adverb)	in effect (adverb)
(often used as a combining form) in a good or proper or satisfactory manner or to a high standard (`good' is a nonstandard dialectal variant for `well')	in actuality or reality or fact
completely and absolutely (`good' is sometimes used informally for `thoroughly')