Which of the following scenarios Is an example of a recognition lag? The economy

Question

Which of the following scenarios Is an example of a recognition lag? The economy enters a deep recession, and Parliament takes two months to approve an extensive tax-cut bill. The economy enters a deep recession on the same day that new quarterly data show positive economic growth. The economy enters a deep recession, and Parliament passes spending bills for public works projects that will take years to plan and build. Which of the following scenarios Is an example of an implementation lag? In response to a recession. Parliament passes a spending bill for Trans-Canada Highway upgrades that will take years to plan and complete Policymakers obtain relevant economic data months after a recession has already begun. A new law requires that all new spending bills go through at least one month of debate before receiving a Parliamentary vote.

Explanation / Answer

1) a

There is a time lag in recognising recession, This normally happens in every economy. The data must be collected and studied to see weather economys is in recession

2) a

In response to recession government planned spending on highway project that would take years to build it is implementation lag.

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