Refer to the information provided in Figure 14.1 below to answer the questions that follow. Figure 14.1
-Refer to Figure 14.1. Suppose it takes policy makers from time t₄ to time t₇ to take an action to stimulate the economy. This is an example of

Question

Refer to the information provided in Figure 14.1 below to answer the questions that follow.

Figure 14.1
-Refer to Figure 14.1. Suppose it takes policy makers from time t₄ to time t₇ to take an action to stimulate the economy. This is an example of

Quizplus · Accepted Answer

Implementation lag refers to the time it takes for policy makers to put a policy into effect once they have recognized the need for action. In this case, it takes policy makers three years (from t₄ to t₇) to implement a policy to stimulate the economy, indicating an implementation lag.

Refer to the Information Provided in Figure 14