According to the cognitive labeling view of emotions, what occurs second?

The cognitive labeling view of emotions describes that what we feel may be shaped by how we label our physiological responses and how we percieve external events and our physiological reactions to them influence the meanings we attach to experiences and the emotions we think are appropiate.
According to the cognitive labeling view of emotions, perception of event occurs second.
Extrenal event on the other hand occurs first.

The correct answer is a physiological response.

According to Schacter and Singer's theory of emotion, emotion has two components: physiological response or arousal and a cognitive label for that arousal. For instance, if you encounter a snake and your heart starts pounding, you cognitively label that physiological response as fear before experiencing the emotion of fear.