Asked by
samuel feleke
on Nov 11, 2024
Verified
Suppose a recession surprises economic forecasters who did not see it coming.This is an example of a _____.
A) cyclical lag
B) recognition lag
C) decision-making lag
D) implementation lag
E) effectiveness lag
Recognition Lag
The time it takes for policymakers to identify and acknowledge an economic problem or trend.
- Attain an understanding of the critical nature of policy lags (recognition, decision-making, implementation, and effectiveness) in economic policy formulation.
Verified Answer
GP
Learning Objectives
- Attain an understanding of the critical nature of policy lags (recognition, decision-making, implementation, and effectiveness) in economic policy formulation.
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