A government has found that 1.51.5 months elapse before it can identify a proble
ID: 1139376 • Letter: A
Question
A government has found that
1.51.5
months elapse before it can identify a problem to address with a policy action. It has found that
2.02.0
months are required to determine the appropriate policy action. Finally, it has concluded that the total time required between the initial presence of the problem and the effects of a policy action to be realized is
2323
months. What is the remaining policy time lag and its duration?The
1.51.5
months that elapse before the problem can be identified is called the
action
effect
recognition
time lag. The
2.02.0
months between the recognition of the problem and the implementation of policy to solve it is called the
recognition
effect
action
time lag. The time it takes for the policy to affect the economy is called the
action
recognition
effect
time lag. Since the total time required between the initial presence of the problem and the effects of a policy action to be realized is
2323
months, the duration of the effect time lag is
nothing months. (Enter your response rounded to one decimal place.)
Explanation / Answer
(1) Remaining policy lag (Months) = 23 - 2 - 1.5 = 19.5
(2) The 1.5 months is called the Recognition time lag.
(3) The 2 months is the Action time lag (also called Implementation time lag).
(4) The time it takes to affect the economy is the Effect time lag.
(5) Duration of effect time lag is 19.5 months [as computed in (1)].