The value of leisure time
A) is lower during a boom for people working too hard than it is during a recession for people who are unemployed.
B) must be the same, according to microeconomic theory, during a boom for people working too hard as it is during a recession for people who are unemployed.
C) is higher during a boom for people working too hard than it is during a recession for people who are unemployed.
D) is different during a boom for people working too hard than it is during a recession for people who are unemployed, but in an unspecified direction.
E) none of the above because the value of leisure time is an individualistic measure.

Question

Quizplus · Accepted Answer

The value of leisure time is generally considered higher during a boom for people working too hard than it is during a recession for people who are unemployed, because when people are working a lot and earning more, the opportunity cost of leisure time increases, making leisure time more valuable.

The Value of Leisure Time