The Time Policymakers Must Wait for the Collection of Economic

question 236

Multiple Choice

The time policymakers must wait for the collection of economic data is known as a(n) :

• A) recognition lag.
• B) information lag.
• C) decision lag.
• D) implementation lag.

---

Definitions:

Production Chain

A series of steps involved in producing a product, from raw material extraction to the final goods being made available to consumers.

Services

Economic activities that provide intangible benefits or goods, such as healthcare, education, and entertainment.

Manufacturing

The process of converting raw materials or components into finished goods using tools, human labor, machinery, and chemical processing.

Export Promotion

A government strategy aimed at encouraging local producers to sell their goods and services abroad.