A recession begins in July but government policy makers do not reach a consensus that a recession had in fact begun until October. This is an example of a(n)

Question

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The delay between the actual start of the recession in July and the recognition of the recession in October is an example of a recognition time lag. This lag occurs when there is a delay in recognizing that an economic problem or event has occurred.

A Recession Begins in July but Government Policy Makers Do