The Recognition Lag Is

question 56

Multiple Choice

The recognition lag is

• A)the time it takes for policy makers to obtain data indicating what is happening in the economy.
• B)the time it takes for policy makers to be sure of what the data are signaling about the future course of the economy.
• C)the time it takes to pass legislation to implement a particular policy.
• D)the time it takes for policy makers to change policy instruments once they have decided on the new policy.
• E)the time it takes for the policy actually to have an impact on the economy.

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Definitions:

Product Quality

The measure of a product's ability to meet or exceed customer expectations.

Customer Service

It is the support and assistance provided by a company to the people who use or buy its products or services.

Dominant Values

Refer to the prevailing or most important values that are shared among a group, culture, or individual, influencing behavior and decision-making.

Organizational Culture

encompasses the values, beliefs, and behaviors that contribute to the unique social and psychological environment of an organization.