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:

Technological

Relating to or involving technology, especially in regard to its development, implementation, and impact on society.

Informed Judgment Forecasts

Predictions about future events, trends, or behaviors made by experts using their knowledge and experience.

Generally Unreliable

Characterizes information or sources that often fail to provide accurate or dependable results or outcomes.

Fast And Inexpensive

Describes a process, solution, or service that requires minimal time and financial investment to accomplish or acquire.