The Net Loss to the Economy as a Result of a Recession

question 17

Multiple Choice

The net loss to the economy as a result of a recession

• A) includes some measure of the deviation of GDP from its potential.
• B) must take into account the value of leisure time, which increases in recessions.
• C) must take into account that taxes lead to a bias against market work and in favor of nonmarket activities.
• D) all of the above.
• E) a and b only.

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