Refer to the information provided in Figure 29.1 below to answer the question(s) that follow. Figure 29.1
-Refer to Figure 29.1. Suppose it takes policy makers from time t₂ to time t₃ to see that the economy has started contracting. This is an example of

Question

Refer to the information provided in Figure 29.1 below to answer the question(s) that follow.

Figure 29.1
-Refer to Figure 29.1. Suppose it takes policy makers from time t₂ to time t₃ to see that the economy has started contracting. This is an example of

Quizplus · Accepted Answer

The time it takes for policy makers to recognize that the economy has started contracting is referred to as a recognition lag.

Refer to the Information Provided in Figure 29