The time required to collect information about the current state of the economy is known as
A)the recognition time lag.
B)the action time lag.
C)the effect time lag.
D)the fiscal lag.

Question

Quizplus · Accepted Answer

The time required to collect information about the current state of the economy is known as the recognition time lag. This lag occurs because it takes time for economic data to be collected, processed, and analyzed before policymakers can make informed decisions about appropriate policy actions.

The Time Required to Collect Information About the Current State