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IDENTIFICATION 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 recognition lag, the identification 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.
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SUPPLY SPACE The area on or above a supply curve that indicates all possible price-quantity combinations acceptable to sellers. Buyers are willing and able to purchase any price-quantity combination that places them on or above the supply curve, but not above.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for letters from the Internal Revenue Service.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle
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