Which of the Following Best Describes the Impact Lag

Multiple Choice

Which of the following best describes the impact lag?

A) the time it takes for policymakers to recognize that economic conditions have changed and that a policy change is necessary
B) the time that elapses from when the need for action is recognized to when the policy adjustment is enacted
C) the time from when the policy action is taken until there is a significant effect on the economy
D) None of the above is correct.