The time that elapses between the beginning of a recession or an inﬂationary episode and the identiﬁcation of the macroeconomic problem is referred to as a(n)
A) budget lag.
B) recognition lag.
C) operational lag.
D) administrative lag.

Question

Quizplus · Accepted Answer

The term used in economics for the time that elapses between the beginning of a recession or an inflationary episode and the identification of the macroeconomic problem is called recognition lag.

The Time That Elapses Between the Beginning of a Recession