A Recent Example of the Recognition Lag Came in the Form

question 11

Multiple Choice

A recent example of the recognition lag came in the form of it taking

• A)several months in 2003 for Congress to agree on a tax cut package even after they had agreed on having one.
• B)only a month or two from the passage of the 2003 tax cut to the issuance to rebate checks.
• C)until Fall 2001 to recognize that the recession of 2001 had started in January 2001.
• D)very little time for the effects of the 2003 rebate checks to have an effect on the economy.

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Definitions:

Published

The process of making something publicly known or available, typically through printing or electronic posting.

Testable Ideas

Concepts or hypotheses that can be empirically investigated through experimentation or observation.

Empiricism

A philosophical standpoint emphasizing evidence-based knowledge acquired through observation and experimentation.

Falsifiability

A principle stating that for a hypothesis to be scientifically valid, it must be possible to conceive an observation or an argument which could negate it.