_____ lag refers to the delay that occurs between when a recession begins and when the government recognizes it, and _____ lag refers to the delay between the policy change in response and the resulting effect.

Question

Quizplus · Accepted Answer

Recognition lag is the delay in identifying the onset of a recession, while outside lag is the delay between implementing a policy change and observing its effects.

_____ Lag Refers to the Delay That Occurs Between When