|
|
RECOGNITION LAG: In the context of economic policies, the time between a shock to the economy and realization that the shock has occurred. This is one of several policy lags that limit the effectiveness of stabilization policies designed to correct business-cycle fluctuations. This is also one of two inside lags. The other is an implementation lag. Also termed identification lag, the recognition lag emerges due to the time needed to measure economic activity. While the lag is generally positive, it actually can be negative through accurate forecasting techniques. When negative policies can be undertaken to correct a problem before it occurs.
Visit the GLOSS*arama
|
|
|
|
|
CHANGE IN REAL PRODUCTION The movement along the short-run or long-run aggregate supply curve caused by a change in the price level. A change in real production is caused ONLY by a change in the price level. This is one of two changes related to aggregate supply. The other is a change in aggregate supply. A change in real production is comparable to a change in quantity supplied. A change in real production for short-run aggregate supply means real production changes with a movement along a given short-run aggregate supply curve. However, the term "change in real production" is also used for movements along a given long-run aggregate supply curve, even though real production does not actually change in the long run.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for small children selling products door-to-door.
Your Complete Scope
This isn't me! What am I?
|
|
|
The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
|
|
|
"The way to gain a good reputation is to endeavor to be what you desire to appear. " -- Socrates, philosopher
|
|
T-BILL
Treasury Bill
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
