Label each of the following scenarios as an example of either recognition lag, administrative lag, or operational lag.
a. To fight a recession, Congress has passed a bill to increase infrastructure spending—but the legally required environmental-impact statement for each new project will take at least two years to complete before any building can begin.
b. Distracted by a war that is going badly, politicians take no notice until inflation reaches 8 percent.
c. Politicians recognize a sudden recession, but it takes many months of political deal making before they finally approve a stimulus bill.
d. To fight a recession, the president orders federal agencies to get rid of petty regulations that burden private businesses—but the federal agencies begin by spending a year developing a set of regulations on how to remove petty