Time Lags Are Delays in the Economy's Response to Stabilization

Multiple Choice

Time lags are delays in the economy's response to stabilization policies. For a particular stabilization policy, which of the following represents the correct order in which these time lags occur?

A) implementation lag → response lag →recognition lag
B) response lag → implementation lag →recognition lag
C) recognition lag → implementation lag →response lag
D) implementation lag → recognition lag →response lag