The Lag in Realizing That a Macroeconomic Problem Exists Is

question 81

Multiple Choice

The lag in realizing that a macroeconomic problem exists is called

• A) the recognition lag.
• B) the implementation lag.
• C) the impact lag.
• D) the market lag.

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Definitions:

Diseconomies Of Scale

The situation when a firm’s average total cost of producing a product increases in the long run as the firm increases the size of its plant (and, hence, its output).

Technologically Progressive

Characterized by innovative application of knowledge and technology to improve products, services, or processes.

Nondiscriminating

Nondiscriminating, in economic terms, often refers to pricing or marketing policies that do not vary between different consumers or groups, treating all participants equally.

Pure Monopolist

A market scenario where a single seller controls the entire supply of a product or service, with no close substitutes available to consumers.