The time it takes for policy makers to get data showing what is happening in the economy is known as the data lag.
The recognition, decision, and effect lags are the three different forms of lags that affect economic policy. The recognition lag is the period of time it takes for the government to realize that economic policy has to change.
The amount of time that a successor activity must be delayed in relation to a predecessor action is described as lag time in the PMBoK. Lag Time is the term used in practice to describe the delay that occurs when the first action is finished but the start of the second activity was delayed.
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