The time necessary to determine that an economic problem exists is called the:
A) legislative lag.
B) recognition lag.
C) implementation lag.
D) effectiveness lag.

Question

Quizplus · Accepted Answer

The time necessary to determine that an economic problem exists is called the recognition lag. This refers to the amount of time it takes for policymakers and economists to recognize that there is an economic issue that requires attention.

The Time Necessary to Determine That an Economic Problem Exists