One of the Lags That Occurs Between Changes in Relative

question 67

Multiple Choice

One of the lags that occurs between changes in relative prices and the quantities of goods traded is the

• A) recognition lag.
• B) recovery lag.
• C) implementation lag.
• D) legislative lag.

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Definitions:

Devise

A legal term for the bequest of real estate property through a will.

Real Property

Real property includes land and anything permanently attached to it, like buildings, in contrast with personal property, which is movable.

Personal Property

Assets that are movable and not fixed to one location, such as furniture, vehicles, and equipment, contrary to real estate.