The time which elapses between the beginning of a recession or an inflationary episode and the identification of the macroeconomic problem is referred to as a(n):
A)budget lag.
B)recognition lag.
C)operational lag.
D)administrative lag.

Question

Quizplus · Accepted Answer

The time which elapses between the beginning of a recession or an inflationary episode and the identification of the macroeconomic problem is referred to as the recognition lag. It takes time for analysts to gather and interpret data to determine whether or not the economy is experiencing a problem.

The Time Which Elapses Between the Beginning of a Recession