The first olive trees in Central Florida may have been planted at New Smyrna Beach in the 1700s, according to historian Gary Luther's History of New Smyrna, East Florida. Green Gate Olive Grove, founded in 1999 in Jackson County in Florida's Panhandle, is the state's oldest olive commercial grove in operation.
When first activity completes, if there is then a delay or wait period before the second activity starts, this is called lag and the delay is known as the Lag Time. Lag Time is the delay between the first and second activity. For example, the time duration for the first activity is 3 days, and for the second activity it is 2 days. After completing the first activity you wait for one day, and then you start second activity.
Time Lags. Monetary policy changes normally take a certain amount of time to have an effect on the economy. The time lag could span anywhere from nine months up to two years. Fiscal policy and its effects on output have a shorter time lag. When monetary policy attempts to stimulate the economy by lowering interest rates, it may take up to 18 months for evidence of any improvement in economic conditions to show up.