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The Time Period Between the First Drop in Output and the Realization

question 60

Multiple Choice

The time period between the first drop in output and the realization that an economy is in a recession is referred to as the _____ lag.


Definitions:

Adults Employed

The portion of the working-age population that is currently employed in the labor market.

Adults Unemployed

Individuals of working age who are without work, but are available for and seeking employment.

Adults Not in the Labor Force

Individuals over the working age who are neither employed nor actively seeking employment.

Labor Force

The total number of people, including both the employed and the unemployed, who are actively seeking employment.

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