The __________ Refers to the Time That Elapses from the Point

question 51

Multiple Choice

The __________ refers to the time that elapses from the point when the need for action is recognized and when a legislative solution is decided upon and set in motion.

• A)impact lag
• B)policy lag
• C)recognition lag
• D)operating lag

---

Definitions:

Productivity Gains

The increase in the output of goods and services per unit of input, typically labor, resulting from improvements in technology, processes, or methods.

Migrant Workers

Individuals who move from one region or country to another to seek employment.

Elastic Demand

Elastic demand indicates a scenario where a slight change in price leads to a substantial shift in the volume of the product demanded by consumers.

Resource Utilization

The efficient and effective use of resources, such as labor, capital, and materials, to produce goods and services.