The ____ lag represents the time from when an economic problem exists until it is recognized.

Question

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The recognition lag represents the time it takes for policymakers to recognize that an economic problem exists. This can occur due to a lack of data or because the problem has not yet surfaced in a noticeable way. Once the problem is recognized, policymakers can start to take action to address it, which involves the adjustment and implementation lags.

The ____ Lag Represents the Time from When an Economic