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 t₅ to time t₇ to see that the economy has started expanding. 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 t₅ to time t₇ to see that the economy has started expanding. This is an example of

Quizplus · Accepted Answer

A recognition lag refers to the time it takes for policy makers to recognize changes in the economy. The given scenario involves policy makers recognizing an expansion in the economy after a time lag, therefore it is an example of a recognition lag.

Refer to the Information Provided in Figure 29